Lockheed Martin (LMT)

Company ID: 60 | CIK: 0000936468
10-Q view:
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Segments are charted by their disclosed metrics (revenue, segment profit, etc.). Each line is a single segment. Reconciliation/corporate items are excluded. Major customers are shown as a percentage of revenue. Operational KPIs are grouped by metric concept; sub-metrics appear as separate lines.

Geographic Segments

Business Unit / Product Segments

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Major Customers (% of Revenue)

Operational KPIs

Backlog not filled within one year (backlog)

F-35 LRIP 11 contract value (bookings)

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Field offices closed (branches)

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F-35 production rate (capacity)

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Common Stockholders (customers)

F-35 fleet flight hours (engagement)

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Sikorsky installed base (fleet_size)

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Engineers, scientists and IT professionals (headcount)

C-5 aircraft backlog (order_book)

Launch Awards (orders_received)

Accelerated progress payments to suppliers (other)

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Accelerated supplier payments (other)

Acquisitions (other)

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Advances to Khrunichev (other)

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Advances to RD AMROSS (other)

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Atlas launches (other)

Award fee capture rate (other)

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Award fee realization (other)

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Backlog conversion (other)

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Backlog recognition timing (other)

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CAS prepayment credits (other)

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Capacity eliminated (other)

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Capital expenditures (other)

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Cash and cash equivalents (other)

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Cash and equivalents (other)

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Cash dividends paid per share (other)

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Cash dividends per share (other)

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Collective bargaining agreements (other)

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College hires and interns (other)

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Commercial Paper Outstanding (other)

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Commercial launch vehicle launches (other)

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Commercial launches (other)

Commercial paper borrowings (other)

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Commercial paper borrowings outstanding (other)

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Commercial paper outstanding (other)

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Commercial satellite deliveries (other)

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Common Stock Outstanding (other)

Common Stockholders of Record (other)

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Common shares outstanding (other)

Common shares repurchased (other)

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Common stock outstanding (other)

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Common stock repurchased (other)

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Competitive Bid Win Rate (other)

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Competitive bid win rate (other)

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Competitive win rate (other)

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Consecutive successful launches (other)

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Consolidation plan cost (other)

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Contract assets (other)

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Contract liabilities (other)

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Contract mix (other)

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Contract mix share (other)

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Contract type mix (other)

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Cost-reimbursable contract sales (other)

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Cost-reimbursable sales mix (other)

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Cost-reimbursable share of sales (other)

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Cumulative shares repurchased under program (other)

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Customer advances and amounts in excess of costs incurred (other)

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Customer advances for Proton launch services (other)

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Debt to capitalization (other)

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Debt to total capitalization (other)

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Debt-to-total capital ratio (other)

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Diluted EPS (other)

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Discretionary pension contributions (other)

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Dividend per share (other)

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Dividends Paid Per Share (other)

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Dividends paid (other)

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Duplicative field offices (other)

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Effective income tax rate (other)

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Effective tax rate (other)

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Employee stock ownership (other)

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Employee vaccination rate (other)

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Employees hired (other)

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Environmental cost recovery assets (other)

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Environmental liabilities (other)

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Environmental receivables (other)

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Environmental remediation liabilities (other)

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Executive diversity (other)

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Expected annual savings (other)

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Expected annual savings from consolidation plan (other)

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Export sales (other)

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F-16 aircraft delivered (other)

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F-35 Flight Hours (other)

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F-35 aircraft affected by insulation issue (other)

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F-35 aircraft backlog (other)

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F-35 aircraft delivered (other)

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F-35 aircraft in backlog (other)

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F-35 cash exposure (other)

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F-35 delivery delay (other)

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F-35 delivery guidance (other)

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F-35 development incentive fees remaining (other)

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F-35 fleet flight hours (other)

F-35 flight hours (other)

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F-35 inventory objective (other)

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F-35 net sales share (other)

F-35 planned deliveries (other)

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F-35 production delay (other)

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F-35 production delay estimate (other)

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F-35 program share of sales (other)

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F-35 revenue share (other)

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F-35 sales share (other)

F-35 share of net sales (other)

F-35 share of sales (other)

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F-35 termination liability (other)

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F-35 termination liability exposure (other)

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F-35 test flights (other)

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F-35 test plan completion (other)

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F-35A unit price (other)

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Facilities and laboratories to close (other)

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Facilities closed (other)

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Facilities to be closed (other)

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Field offices closed (other)

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Field offices to be closed (other)

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Fixed-price contract sales (other)

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Fleet flight hours (other)

Foreign currency contract notional (other)

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Free Cash Flow (other)

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GOCO operational activity (other)

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Goodwill (other)

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Goodwill impairment (other)

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Holders of record (other)

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IR&D Spending (other)

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IR&D and B&P spend (other)

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IR&D and bid costs (other)

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IR&D and bid/proposal spending (other)

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Independent R&D costs (other)

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Independent R&D expense (other)

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Independent R&D spend (other)

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Interest rate swap notional (other)

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Interest rate swaps (other)

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International FMS share (other)

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International sales mix (other)

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Land held for sale (other)

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Launches (other)

Launches performed (other)

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Letters of Credit (other)

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Letters of credit and guarantees (other)

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Letters of credit and surety bonds (other)

Letters of credit and surety bonds outstanding (other)

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Long-term debt (other)

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Mission Success Rate (other)

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Mission success rate (other)

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Net accelerated progress payments received (other)

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Net earnings (other)

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Net sales (other)

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Net unfunded pension status (other)

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New hires (other)

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Nonvested restricted stock units and awards (other)

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Number of Reportable Segments (other)

Offset Agreements (other)

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Offset Agreements Obligation (other)

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Offset agreement obligations (other)

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Offset agreements (other)

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Offset agreements outstanding (other)

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Offset penalties (other)

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Operating cash flow (other)

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Operating margin (other)

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Operating profit (other)

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Outstanding Common Shares (other)

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Outstanding offset agreements (other)

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Outstanding shares (other)

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Patent applications pending (other)

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Patents owned (other)

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Pension contributions (other)

Pension funded status (other)

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Pension obligations transferred (other)

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Pension plan contributions (other)

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Pension plan funded status (other)

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Pension prepayment credits (other)

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Planned workforce reduction (other)

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Positions eliminated (other)

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Production aircraft delivered (other)

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Proton customer advances (other)

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Proton launches (other)

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R&D and bid spend (other)

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R&D and bid/proposal spending (other)

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Ratio of earnings to fixed charges (other)

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Record holders (other)

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Remaining SDD fee (other)

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Remaining share repurchase authorization (other)

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Repurchase authorization remaining (other)

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Research and development spending (other)

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Retirees covered by pension transfer (other)

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Return on invested capital (other)

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Revenue by contract type (other)

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Revolving credit facilities (other)

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Revolving credit facility (other)

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Revolving credit facility borrowings (other)

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Satellite deliveries (other)

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Satellites launched (other)

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Share Repurchase Authorization Remaining (other)

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Share repurchase authorization (other)

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Share repurchase cost (other)

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Share repurchases (other)

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Shareholders of Record (other)

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Shareholders of record (other)

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Shares Outstanding (other)

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Shares Repurchased (other)

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Shares authorized for repurchase (other)

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Shares available for repurchase (other)

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Shares outstanding (other)

Shares remaining authorized (other)

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Shares remaining under repurchase program (other)

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Shares repurchased (other)

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Shares repurchased under buyback program (other)

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Shares reserved under stock plans (other)

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Sikorsky installed base (other)

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Sikorsky post-acquisition sales (other)

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Spacecraft deployments (other)

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Stock options exercisable (other)

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Stock options exercised (other)

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Stock options outstanding (other)

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Stockholders of record (other)

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Strategic review program sales (other)

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Successful launches (other)

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Supplier payments accelerated (other)

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Surety Bonds (other)

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Surplus land (other)

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Surplus land for sale (other)

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THAAD test flights (other)

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Tariff cash flow impact (other)

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Third-Party Guarantees (other)

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Total cost of consolidation plan (other)

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Total debt outstanding (other)

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Total debt to total capitalization (other)

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U.S. Government share of net sales (other)

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Union-covered employees (other)

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Union-represented employees (other)

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Unrecognized stock-based compensation (other)

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VESP participants approved (other)

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Vehicle launches (other)

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Weighted average diluted shares (other)

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Weighted average shares (other)

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Weighted average unallocated ESOP shares (other)

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Weighted average unallocated ESOP shares excluded (other)

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Workforce diversity (other)

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Workforce reduction plan (other)

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Year 2000 Implementation phase completion (other)

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Year 2000 Program Costs (other)

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Year 2000 Validation phase completion (other)

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Year 2000 compliance costs (other)

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Year 2000 program costs (other)

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Year 2000 program costs expended (other)

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F-35 production deliveries (production_volume)

Facility locations (properties)

Revenue, Remaining Performance Obligation, Amount (rpo)

IS&GS floor space (square_footage)

C-5M aircraft (units_shipped)

Aircraft delivered (vehicles_delivered)

Human capital disclosures. Workforce totals and demographics are point-in-time. Flow metrics use the year-to-date period for 10-Q and full year for 10-K. Workforce actions (RIFs, restructurings, acquisition-related changes) are listed in the table at the bottom.

Workforce Totals

Demographics

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Workforce Breakdowns

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HCM Metrics — Point-in-Time

No point-in-time HCM metrics found.

HCM Metrics — Flow (Annual / YTD)

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Workforce Actions

Period EndTypeStatusAffected% WorkforceAnnouncedExpected CompletionGeographySegment / FunctionChargeSourceNote
2026-06-28acquisition_additionannounced2026-07-062026-12-31GlobalUndersea 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.
2025-12-31acquisition_additioncompleted20252025SpaceUSD 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.
2025-12-31acquisition_additioncompletedSpaceUSD 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
2025-12-31restructuringcompleted2025-06-302025-12-31GlobalCorporate and Business SegmentsUSD 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.
2025-12-31acquisition_additioncompleted2025-06-302025-06-30United StatesSpacebusiness_combinations_footnote
f5-10k / Qwen3.6-27B-Q8_0
Acquisition of Amentum's Rapid Solutions business for $360 million. Headcount not explicitly disclosed.
2025-09-28restructuringcompleted2025-04-012025-06-30Corporate / SikorskyUSD 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.
2025-06-29acquisition_additioncompleted2025-06-262025-06-26United StatesSpaceUSD 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.
2025-06-29restructuringcompleted2024-06-30SikorskyUSD 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.
2024-12-31restructuringcompleted2024Rotary 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.
2024-12-31acquisition_additioncompleted2024-10-30Spacebusiness_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.
2024-12-31divestiture_reductioncompleted2024-09-09Aeronautics (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.
2024-12-31restructuringin_progress2024-06United StatesRotary 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
2024-12-31acquisition_additioncompleted2024-10-302024-10-30United StatesSpacebusiness_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
2024-12-31restructuringcompleted2024-06-30GlobalSikorsky (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.
2024-12-31acquisition_additioncompleted2024-10-30GlobalSpacebusiness_combinations_footnote
f5-10k / Qwen3.6-27B-Q8_0
Acquisition of Terran Orbital Corporation. Headcount added not disclosed.
2024-12-31divestiture_reductioncompleted2024-09-09GlobalAeronauticsdiscontinued_operations_footnote
f5-10k / Qwen3.6-27B-Q8_0
Sale of Commercial Engine Solutions (CES) business. Headcount removed not disclosed.
2024-09-29restructuringcompletedSikorsky (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.
2024-09-29restructuringin_progress2024-06-30United StatesRotary 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.
2024-09-29otherannounced2024-10-05TürkiyeRotary 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.
2024-09-29restructuringcompleted2024-06-30SikorskyUSD 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.
2024-06-30restructuringcompletedSikorsky (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.
2024-06-30restructuringin_progress2024-04-01United StatesRotary 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.
2024-06-30othercompleted2024-06-212024-07-03United StatesRotary 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.
2024-06-30restructuringcompleted2024-06-302024-06-30GlobalSikorskyUSD 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.
2023-12-31restructuringin_progress2023Not disclosed; described as across the corporationBusiness segments and corporate functionsUSD 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).
2023-12-31restructuringin_progressUnited StatesAcross 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.
2023-12-31restructuringcompleted2023-10-01GlobalCorporate and Business SegmentsUSD 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.
2023-12-31restructuringin_progressSegment Reconciling Items [Member]USD 92,000,000 (absolute)restructuring_footnote
f5-10k / no-ai-xblr
2022-12-31restructuringcompletedRotary 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.
2022-12-31restructuringin_progress2022-10-01United StatesRotary and Mission SystemsUSD 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.
2022-12-31restructuringcompleted2022-10-25Rotary and Mission SystemsUSD 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.
2022-12-31restructuringin_progressSegment Reconciling Items [Member]USD 100,000,000 (absolute)restructuring_footnote
f5-10k / no-ai-xblr
2022-06-26othercompleted5,000Fort Worth, TexasAeronautics (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.
2022-03-27otherannounced5,0002022-04-24Fort Worth, Texas, United StatesAeronautics (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.
2022-03-27otherannounced5,0002022-04-24United States — Fort Worth, TexasAeronautics — F-35 productionMD&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.
2022-03-27restructuringcompletedRotary and Mission SystemsUSD 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.
2022-03-27otherin_progress5,0002022-04-24Fort Worth, TexasAeronauticsMD&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.
2021-12-31restructuringin_progressRotary 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.
2021-12-31divestiture_reductioncompleted2021-06-302021-06-30United KingdomSpaceMD&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.
2021-12-31restructuringin_progressUnited StatesRotary and Mission SystemsUSD 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.
2021-12-31divestiture_reductioncompleted2021-06-302021-06-30United KingdomSpaceItem_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.
2021-12-31restructuringcompleted2021-12-312021-12-31GlobalRotary and Mission SystemsUSD 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.
2021-12-31restructuringin_progressSegment Reconciling Items [Member]USD 36,000,000 (absolute)restructuring_footnote
f5-10k / no-ai-xblr
2021-09-26restructuringin_progress2021-01-01Rotary and Mission SystemsUSD 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.
2021-09-26divestiture_reductioncompleted2021-06-302021-06-30United KingdomSpaceMD&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.
2021-09-26restructuringin_progress2021-03-31United StatesRotary 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.
2021-09-26divestiture_reductioncompleted2021-06-302021-06-30United KingdomSpace (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.
2021-09-26restructuringin_progress2021-01-01Rotary and Mission SystemsUSD 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.
2021-06-27restructuringin_progress2021-03-28Rotary and Mission SystemsUSD 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.
2021-06-27restructuringin_progress2021-03-28United StatesRotary 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.
2021-06-27restructuringin_progress2021-01-01Rotary and Mission SystemsUSD 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.
2021-03-28restructuringin_progressRotary and Mission SystemsUSD 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.
2021-03-28restructuringin_progressRotary 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.
2021-03-28restructuringin_progress2021-03-28Rotary and Mission SystemsUSD 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.
2020-12-31restructuringin_progress2020Corporate 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.
2020-12-31acquisition_additioncompleted2020-112020-11SpaceMD&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.
2020-12-31acquisition_additioncompleted20202020AeronauticsMD&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.
2020-12-31acquisition_additionannounced2020-12-202021MD&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.
2020-12-31divestiture_reductionannounced2020-11-022021-06-30United KingdomSpaceItem_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.
2020-12-31restructuringin_progressCorporate functionsUSD 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.
2020-12-31acquisition_additionannounced2020-12-20other
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.
2020-12-31restructuringcompleted2020-12-31GlobalCorporate FunctionsUSD 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.
2020-12-31restructuringin_progressSegment Reconciling Items [Member]USD -27,000,000 (absolute)restructuring_footnote
f5-10k / no-ai-xblr
2019-12-31divestiture_reductioncompleted2019-11-18Missiles 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.
2019-12-31divestiture_reductioncompleted2019-11-182019-11-18United StatesMissiles and Fire ControlMD&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.
2019-12-31restructuringcompleted2018-01-012019-12-31Rotary and Mission SystemsUSD 96 (millions)restructuring_footnote
f5-10k / Qwen3.6-27B-Q8_0
Charges recorded in 2018; substantially all severance payments paid by end of 2019.
2019-12-31restructuringin_progressUSD 0 (absolute)restructuring_footnote
f5-10k / no-ai-xblr
2019-12-31restructuringin_progressRotary and Mission Systems [Member]USD 60,000,000 (absolute)restructuring_footnote
f5-10k / no-ai-xblr
2019-12-31restructuringin_progressSegment Reconciling Items [Member]USD 0 (absolute)restructuring_footnote
f5-10k / no-ai-xblr
2019-09-29restructuringin_progressUSD 0 (absolute)restructuring_footnote
f5-10q / no-ai-xblr
2019-09-29restructuringin_progressSegment Reconciling Items [Member]USD 0 (absolute)restructuring_footnote
f5-10q / no-ai-xblr
2019-06-30restructuringin_progress2018-06-24United StatesRotary 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.
2019-06-30restructuringcompleted2018-04-01Rotary and Mission SystemsUSD 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.
2019-06-30restructuringin_progressUSD 0 (absolute)restructuring_footnote
f5-10q / no-ai-xblr
2019-06-30restructuringin_progressSegment Reconciling Items [Member]USD 0 (absolute)restructuring_footnote
f5-10q / no-ai-xblr
2019-03-31restructuringin_progress2018-06-30Rotary and Mission SystemsUSD 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.
2019-03-31restructuringin_progress2018-04-01Rotary and Mission SystemsUSD 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.
2018-12-31restructuringin_progress2019-12-31Rotary 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.
2018-12-31restructuringin_progress2019-12-31Rotary 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.
2018-12-31restructuringin_progress2018-12-312019-12-31GlobalRotary and Mission SystemsUSD 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.
2018-12-31restructuringin_progressSegment Reconciling Items [Member]USD -96,000,000 (absolute)restructuring_footnote
f5-10k / no-ai-xblr
2018-09-30restructuringin_progress2019-12-31United StatesRotary 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.
2018-09-30restructuringin_progress2018-06-302019-12-31Rotary and Mission SystemsUSD 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.
2018-09-30restructuringin_progressUSD 0 (absolute)restructuring_footnote
f5-10q / no-ai-xblr
2018-09-30restructuringin_progressSegment Reconciling Items [Member]USD 0 (absolute)restructuring_footnote
f5-10q / no-ai-xblr
2018-06-24restructuringin_progress2018-12-31Rotary and Mission SystemsUSD 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.
2018-06-24restructuringin_progress2018-06-242018-12-31Rotary and Mission SystemsUSD 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.
2018-06-24restructuringin_progressUSD 96,000,000 (absolute)restructuring_footnote
f5-10q / no-ai-xblr
2018-06-24restructuringin_progressSegment Reconciling Items [Member]USD -96,000,000 (absolute)restructuring_footnote
f5-10q / no-ai-xblr
2018-06-24restructuringin_progressRotary and Mission Systems [Member]USD 96,000,000 (absolute)restructuring_footnote
f5-10q / no-ai-xblr
2018-06-24restructuringin_progressOperations Consolidation [Member] / Rotary and Mission Systems [Member]USD 21,000,000 (absolute)restructuring_footnote
f5-10q / no-ai-xblr
2017-12-31restructuringcompleted20162017-03-31AeronauticsUSD 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.
2017-12-31restructuringcompleted20152016-12-31Rotary and Mission SystemsUSD 67 (millions)restructuring_footnote
f5-10k / Qwen3.6-27B-Q8_0
2015 actions: $67 million related to RMS. Substantially paid by Dec 31, 2016.
2017-12-31restructuringcompleted20152016-12-31Information Systems & Global SolutionsUSD 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.
2017-12-31restructuringcompleted2015-062016-12-31Rotary and Mission SystemsUSD 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.
2017-12-31restructuringcompleted20162017-03-31AeronauticsUSD 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.
2017-12-31restructuringcompleted20152016-12-31Rotary and Mission SystemsUSD 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.
2017-12-31restructuringcompleted20152016-12-31Former IS&GS BusinessUSD 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.
2017-12-31restructuringcompleted2015-062016-12-31Rotary and Mission SystemsUSD 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.
2017-09-24restructuringcompleted2016-01-012017-03-31AeronauticsUSD 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.
2017-06-25restructuringcompleted2016-01-01AeronauticsUSD 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.
2017-06-25restructuringcompleted2016-01-012017-03-31AeronauticsUSD 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.
2017-03-26restructuringcompletedAeronauticsUSD 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.
2016-12-31restructuringin_progress2016AeronauticsUSD 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.
2016-12-31restructuringin_progress2015-06Rotary 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.
2016-12-31divestiture_reductioncompleted2016-01-262016-08-16Information 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.
2016-12-31divestiture_reductioncompleted20152016-05-02Rotary 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.
2016-12-31acquisition_additioncompleted2016-08-242016-08-24United KingdomSpace 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.
2016-12-31restructuringin_progressUnited StatesAeronauticsUSD 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.
2016-12-31restructuringcompleted2015-06-30United StatesSikorsky 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.
2016-12-31divestiture_reductioncompleted2016-01-262016-08-16United StatesInformation 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.
2016-12-31divestiture_reductioncompleted2015-12-312016-05-02United StatesLockheed 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.
2016-12-31restructuringcompleted2016-01-012016-12-31GlobalAeronauticsUSD 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.
2016-12-31restructuringcompleted2015-06-012016-12-31GlobalRotary and Mission SystemsUSD 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.
2016-09-25restructuringin_progress2016-01-012016-12-31AeronauticsUSD 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.
2016-09-25restructuringin_progress2015-06-012016-12-31Rotary 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.
2016-09-25restructuringin_progress2015-07-01Rotary and Mission Systems; former IS&GS businessesUSD 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.
2016-09-25divestiture_reductioncompleted2016-08-162016-08-16Information 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.
2016-09-25restructuringin_progress2016-03-292016-12-31United StatesAeronauticsUSD 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).
2016-09-25divestiture_reductioncompleted2016-08-162016-08-16United StatesInformation 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.
2016-09-25acquisition_additioncompleted2016-08-242016-08-24United KingdomSpace Systemsbusiness_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.
2016-09-25restructuringin_progress2015-06-302016-12-31United StatesRotary 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.
2016-09-25restructuringin_progress2015-09-302017-06-30United StatesRotary and Mission SystemsUSD 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.
2016-09-25restructuringin_progress2016-01-012016-12-31AeronauticsUSD 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.
2016-09-25restructuringin_progress2015-07-01Rotary and Mission SystemsUSD 67 (millions)restructuring_footnote
f5-10q / Qwen3.6-27B-Q8_0
Severance charges recorded in Q3/Q4 2015. Payments expected over next several quarters.
2016-09-25restructuringin_progress2015-06-012016-12-31Rotary and Mission SystemsUSD 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.
2016-06-26restructuringin_progress2016-01-012016-12-31AeronauticsUSD 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.
2016-06-26restructuringin_progress2016-01-012016-12-31Information Systems & Global SolutionsUSD 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.
2016-06-26restructuringin_progress2015-01-01Mission Systems and TrainingUSD 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.
2016-06-26restructuringin_progress2015-01-01Information Systems & Global SolutionsUSD 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.
2016-06-26restructuringin_progress2015-06-012016-12-31Sikorsky (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.
2016-06-26acquisition_additioncompleted2015-11-062015-11-06Mission 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.
2016-06-26divestiture_reductionannounced2016-01-262016-09-30Information Systems & Global SolutionsUSD 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.
2016-06-26restructuringin_progress2016-12-31AeronauticsUSD 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.
2016-06-26restructuringin_progress2016-12-31Information Systems & Global SolutionsUSD 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.
2016-06-26restructuringin_progress2016-12-31Mission 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.
2016-06-26restructuringin_progressMission Systems and TrainingUSD 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.
2016-06-26restructuringin_progressInformation Systems & Global SolutionsUSD 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.
2016-06-26restructuringin_progress2016-01-012016-12-31AeronauticsUSD 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.
2016-06-26restructuringin_progress2016-01-012016-12-31Information Systems & Global SolutionsUSD 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.
2016-06-26restructuringin_progress2015-06-012016-12-31Mission Systems and TrainingUSD 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.
2016-03-27restructuringin_progress2016-12-31AeronauticsUSD 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.
2016-03-27restructuringin_progress2016-12-31Information Systems & Global SolutionsUSD 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.
2016-03-27restructuringin_progressMission Systems and TrainingUSD 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.
2016-03-27restructuringin_progressInformation Systems & Global SolutionsUSD 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.
2016-03-27restructuringin_progress2016-12-31Mission 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.
2016-03-27acquisition_additioncompleted2015-11-062015-11-06Mission Systems and TrainingUSD 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.
2016-03-27divestiture_reductionannounced2016-01-262016-09-30Information Systems & Global SolutionsUSD 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.
2016-03-27restructuringin_progress2016-12-31United StatesAeronauticsUSD 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.
2016-03-27restructuringin_progress2016-12-31United StatesInformation Systems & Global SolutionsUSD 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.
2016-03-27divestiture_reductionannounced2016-01-262016-12-31United StatesInformation Systems & Global Solutionsother
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.
2016-03-27restructuringin_progress2016-03-272016-12-31AeronauticsUSD 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.
2016-03-27restructuringin_progress2016-03-272016-12-31Information Systems & Global SolutionsUSD 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.
2015-12-31restructuringin_progress4,0002013-112016-12-31IS&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.
2015-12-31acquisition_additioncompleted2015-07-192015-11-06GlobalMission Systems and Training (MST) — Sikorsky Aircraft Corporationbusiness_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.
2015-12-31restructuringin_progress1,4002015-062016-12-31GlobalSikorsky (aligned under MST) — production-related positions and facilities consolidationsUSD 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.
2015-12-31restructuringin_progressMission 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.
2015-12-31restructuringin_progressInformation Systems & Global Solutions (IS&GS) — attribution presented prior to the Q4 2015 program realignmentUSD 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).
2015-12-31divestiture_reductionannounced2016-01-262016-12-31Information 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.
2015-12-31restructuringin_progressMission Systems and TrainingUSD 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).
2015-12-31restructuringin_progressInformation Systems & Global SolutionsUSD 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).
2015-12-31restructuringin_progress1,4002015-06-302016-12-31GlobalMission 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).
2015-12-31acquisition_additioncompleted2015-07-192015-11-06GlobalMission Systems and Trainingbusiness_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.
2015-12-31restructuringin_progress2013-11-302016-12-31United StatesInformation Systems & Global Solutions; Mission Systems and Training; Space SystemsUSD 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.
2015-12-31divestiture_reductionannounced2016-01-262016-12-31United StatesInformation Systems & Global Solutionssubsequent_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.
2015-12-31divestiture_reductionannounced2016-12-31Lockheed 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.
2015-12-31restructuringin_progress2015-01-012016-12-31GlobalMission Systems and Training; Information Systems & Global SolutionsUSD 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.
2015-12-31restructuringin_progress1,4002015-06-012016-12-31GlobalMission 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.
2015-12-31restructuringin_progress4,0002013-11-012016-12-31GlobalInformation Systems & Global Solutions; Mission Systems and Training; Space SystemsMD&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.
2015-12-31restructuringin_progressWorkforce Reduction [Member]USD 67,000,000 (absolute)restructuring_footnote
f5-10k / no-ai-xblr
2015-12-31restructuringin_progress1,400Sikorsky Aircraft Corporation [Member]restructuring_footnote
f5-10k / no-ai-xblr
2015-09-27restructuringin_progress2015-09-272016-06-30Information Systems & Global SolutionsUSD 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).
2015-09-27restructuringin_progress4,0002013-11-012015-12-31IS&GS, MST and Space SystemsUSD 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).
2015-09-27divestiture_reductionannounced16,5002015-07-202015-12-31IS&GS government IT infrastructure services; MFC technical servicesMD&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.
2015-09-27restructuringin_progress2016-06-30Information 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.
2015-09-27restructuringin_progress4,0002013-112015-12-31United StatesIS&GS, MST and Space SystemsUSD 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.
2015-09-27otherannounced16,5002015-07-202015-12-31United StatesGovernment 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.
2015-09-27acquisition_additionannounced2015-07-202015-12-31GlobalMission 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.
2015-09-27restructuringin_progress2015-07-012016-06-30Information Systems & Global SolutionsUSD 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.
2015-09-27restructuringin_progress4,0002013-11-012015-12-31Information Systems & Global Solutions, Mission Systems and Training, Space SystemsUSD 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.
2015-06-28restructuringin_progress4,0002013-11-012015-12-31IS&GS, MST and Space SystemsUSD 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.
2015-06-28divestiture_reductionannounced17,0002015-07-202015-12-31IS&GS government IT infrastructure services and MFC technical servicessubsequent_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.
2015-06-28restructuringin_progress4,0002013-112015-12-31IS&GS, MST and Space SystemsUSD 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.
2015-06-28divestiture_reductionannounced17,0002015-07-202015-12-31Government 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.
2015-06-28acquisition_additionannounced2015-07-202016-03-31Mission 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.
2015-06-28restructuringin_progress4,0002013-11-012015-12-31GlobalIS&GS, MST, Space SystemsUSD 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.
2015-06-28otherannounced17,0002015-07-202015-12-31GlobalIS&GS, MFCsubsequent_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.
2015-03-29restructuringin_progress4,0002013-11-012015-12-31IS&GS, MST and Space SystemsUSD 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.
2015-03-29restructuringin_progress4,0002013-112015-12-31Information Systems & Global Solutions; Mission Systems and Training; Space SystemsUSD 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.
2015-03-29restructuringin_progress4,0002013-11-012015-12-31GlobalIS&GS, MST, Space SystemsUSD 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.
2014-12-31restructuringin_progress4,0002013-112015United StatesInformation Systems & Global Solutions (IS&GS), Mission Systems and Training (MST), Space SystemsUSD 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).
2014-12-31restructuringin_progress4,0002013-112015United StatesInformation Systems & Global Solutions; Mission Systems and Training; Space SystemsUSD 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).
2014-12-31acquisition_additioncompleted2014-04-072014-04-07Information Systems & Global Solutionsbusiness_combinations_footnote
f5-10k / MiMo-V2.6-Flash-fp8-HTML
Acquisition of Industrial Defender, Inc. (cyber security for control systems). Acquired headcount not disclosed.
2014-12-31acquisition_additioncompleted2014-08-182014-08-18Space Systemsbusiness_combinations_footnote
f5-10k / MiMo-V2.6-Flash-fp8-HTML
Acquisition of Zeta Associates, Inc. (intelligence/defense information systems). Acquired headcount not disclosed.
2014-12-31acquisition_additioncompleted2014-12-012014-12-01Information Systems & Global Solutionsbusiness_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.
2014-12-31restructuringin_progress4,0002013-112015-12-31GlobalIS&GS, MST, Space SystemsUSD 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.
2014-09-28restructuringin_progress4,0002013-11-012015-12-31IS&GS, MST, and Space SystemsUSD 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.
2014-09-28restructuringcompleted2013-03-312013-12-31IS&GSUSD 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.
2014-09-28restructuringin_progress4,0002013-112015United StatesIS&GS, MST, and Space SystemsUSD 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.
2014-09-28acquisition_additioncompleted2014-08-18United StatesSpace Systemsbusiness_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.
2014-09-28acquisition_additioncompleted2014-04-07United StatesInformation Systems & Global Solutionsbusiness_combinations_footnote
f5-10q / MiMo-V2.6-Flash-fp8-HTML
Acquisition of Industrial Defender, Inc. completed 2014-04-07; no headcount disclosed.
2014-09-28restructuringin_progress4,0002013-11-012015-12-31GlobalIS&GS, MST, Space SystemsUSD 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.
2014-06-29restructuringin_progress4,0002013-11-012015-12-31IS&GS, MST, and Space SystemsUSD 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.
2014-06-29restructuringin_progress2013-11-012015-12-31Information Systems & Global SolutionsUSD 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.
2014-06-29restructuringin_progress2013-11-012015-12-31Mission Systems and TrainingUSD 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.
2014-06-29restructuringin_progress2013-11-012015-12-31Space SystemsUSD 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.
2014-06-29restructuringin_progress4,0002013-112015United StatesInformation Systems & Global Solutions; Mission Systems and Training; Space SystemsUSD 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.
2014-06-29restructuringin_progress4,0002013-11-012015-12-31GlobalIS&GS, MST, Space SystemsUSD 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.
2014-03-30restructuringin_progress4,0002013-11-012015-12-31IS&GS, MST, and Space Systems business segmentsUSD 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.
2014-03-30restructuringin_progress2013-112015-12-31United StatesInformation 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).
2014-03-30restructuringin_progress2013-112015-12-31United StatesMission 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.
2014-03-30restructuringin_progress2013-112015-12-31United StatesSpace SystemsUSD 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.
2014-03-30restructuringin_progress2013-11-012015-12-31IS&GS, MST, Space SystemsUSD 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.
2014-03-30restructuringin_progress2013-11-012015-12-31IS&GS, MST, Space SystemsUSD 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.
2014-03-30restructuringin_progress2013-11-012015-12-31IS&GS, MST, Space SystemsUSD 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.
2013-12-31restructuringin_progress4,0002013-112015-06United States (Arizona, Ohio, Pennsylvania, California)Information Systems & Global Solutions; Mission Systems and Training; Space SystemsUSD 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.
2013-12-31othercompleted2013-12-31United StatesInformation Systems & Global SolutionsUSD 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.
2013-12-31restructuringin_progress4,0002013-112015-06-30United StatesInformation Systems & Global Solutions; Mission Systems and Training; Space SystemsUSD 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.
2013-12-31restructuringcompleted2013-012013-12-31United StatesInformation Systems & Global SolutionsUSD 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.
2013-12-31plant_closurein_progress2013-112015-06-30United States (Goodyear AZ; Akron OH; Newtown PA; Sunnyvale CA)Information Systems & Global Solutions; Mission Systems and Training; Space SystemsItem_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.
2013-12-31acquisition_additioncompletedUnited KingdomInformation Systems & Global SolutionsUSD 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.
2013-12-31restructuringin_progress4,0002013-112015-06-30GlobalIS&GS, MST, Space SystemsUSD 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.
2013-12-31restructuringin_progress4,000Information Systems And Global Solutions Mission Systems And Training And Space Systems [Member]restructuring_footnote
f5-10k / no-ai-xblr
2013-09-29restructuringcompleted2013-03-31Information Systems & Global SolutionsUSD 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).
2013-09-29restructuringcompleted2012-09-30Former Electronic Systems business segmentUSD 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.
2013-09-29restructuringcompleted2012-12-31AeronauticsUSD 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.
2013-09-29restructuringcompleted2013-03-31United StatesInformation 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.
2013-09-29otherannounced2013-10-01United StatesCorporateMD&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.
2013-09-29restructuringcompleted2013-03-312013-09-29Information Systems & Global SolutionsUSD 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.
2013-09-29restructuringcompleted2012-10-012013-09-29AeronauticsUSD 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.
2013-06-30restructuringin_progress2013-03-31Information Systems & Global SolutionsUSD 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.
2013-06-30restructuringcompleted2012-09-30Aeronautics and former Electronic SystemsUSD 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.
2013-06-30restructuringin_progress2013-03-312013-12-31United StatesInformation 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.
2013-06-30restructuringcompleted2013-03-312013-12-31Information Systems & Global SolutionsUSD 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.
2013-03-31reduction_in_forcein_progress2013-01-012013-12-31Information Systems & Global SolutionsUSD 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.
2013-03-31reduction_in_forcein_progress2012-07-012013-06-30Aeronautics and former Electronic SystemsUSD 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.
2013-03-31restructuringin_progress2013-01-012013-12-31United StatesInformation 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.
2013-03-31restructuringin_progress2012-06-302013-06-30United StatesAeronautics; former Electronic SystemsUSD 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.
2013-03-31restructuringin_progress2013-03-312013-12-31Information Systems & Global SolutionsUSD 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.
2013-03-31restructuringin_progress2012-09-302013-06-30Aeronautics; Electronic SystemsUSD 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.
2012-12-31restructuringcompleted2012United StatesAeronauticsUSD 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.
2012-12-31restructuringcompleted2012United StatesFormer 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.
2012-12-31acquisition_additioncompleted2012United StatesMission 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.
2012-12-31acquisition_additioncompleted2012United StatesMission 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.
2012-12-31acquisition_additioncompleted2012Mission 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.
2012-12-31divestiture_reductioncompleted2012Former 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.
2012-12-31restructuringin_progress2012-01-012013-06-30United StatesAeronauticsUSD 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.
2012-12-31restructuringin_progress2012-01-012013-06-30United StatesFormer 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).
2012-12-31acquisition_additioncompleted2012-03-312012-12-31United StatesMission 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.
2012-12-31divestiture_reductioncompleted2012-06-302012-09-30United StatesFormer 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.
2012-12-31restructuringcompleted2012-12-312013-06-30GlobalAeronautics; 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.
2012-09-30restructuringin_progress2012-10-082012-12-31Electronic SystemsUSD 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.
2012-09-30restructuringin_progress2012-10-082013-03-31United StatesElectronic SystemsUSD 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.
2012-09-30restructuringcompleted2012-09-30United StatesMultiple segments including Aeronautics, Space Systems, IS&GS, and Corporate HeadquartersUSD 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.
2012-09-30restructuringin_progress2012-10-082013-03-31Electronic SystemsUSD 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.
2012-06-24othercompleted2012-06-28United StatesAeronautics (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.
2012-06-24voluntary_separationcompleted2010-01-012012-06-24United StatesAeronautics and Space SystemsUSD 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.
2012-06-24otherannounced2012-06-242012-09-30United StatesCompany-wideMD&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.
2012-06-24othercompleted2012-06-28United StatesAeronauticsMD&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.
2012-06-24otherannouncedUnited Statesenterprise-wideMD&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.
2012-06-24restructuringcompleted2011-06-262012-06-24United StatesAeronautics; Space SystemsUSD 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.
2012-06-24otherannounced2012-06-24United StatesCorporateMD&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.
2012-03-25otherin_progress3,6002012-04-22United StatesAeronauticsMD&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.
2012-03-25restructuringin_progress2011-01-01United StatesAeronautics, IS&GS, Space Systems, Corporate HeadquartersUSD 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.
2012-03-25restructuringcompleted2011-06-302012-03-25United StatesAeronautics, IS&GS, Space Systems, and Corporate HeadquartersUSD 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.
2012-03-25otherannounced3,6002012-04-22United StatesAeronautics (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.
2012-03-25restructuringcompleted2011-06-302012-03-25United StatesAeronautics, IS&GS, Space Systems, Corporate HeadquartersUSD 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.
2012-03-25otherannounced3,6002012-04-22United StatesAeronauticssubsequent_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.
2011-12-31restructuringin_progress20112012-06-30AeronauticsUSD 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)
2011-12-31restructuringin_progress20112012-06-30Space SystemsUSD 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
2011-12-31restructuringin_progress20112012-06-30IS&GS and Corporate HeadquartersUSD 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
2011-12-31acquisition_additioncompleted2011IS&GSbusiness_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
2011-12-31acquisition_additioncompleted2011Electronic Systemsbusiness_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
2011-12-31divestiture_reductioncompleted2011-04-04IS&GSdiscontinued_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
2011-12-31divestiture_reductionannounced2011Electronic Systemsdiscontinued_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
2011-12-31restructuringcompleted2011-01-012012-06-30Primarily United StatesAeronautics, Space Systems, IS&GS and Corporate HeadquartersUSD 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
2011-12-31divestiture_reductioncompleted2011-01-012011-04-04Not disclosedInformation 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
2011-12-31divestiture_reductionannounced2011-07-012012-06-30Not disclosedElectronic 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
2011-12-31acquisition_additioncompleted2011-10-012011-12-31Not disclosedIS&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
2011-12-31restructuringcompleted20112012-06-30GlobalAeronautics, Space Systems, IS&GS, Corporate HeadquartersUSD 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.
2011-12-31voluntary_separationcompleted20102011-05-01GlobalAeronautics, Electronic Systems, IS&GS, Space Systems, Corporate HeadquartersUSD 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.
2011-09-25restructuringin_progress2011-09-252012-06-30Information Systems & Global Solutions and Corporate HeadquartersUSD 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.
2011-09-25restructuringin_progress2011-06-262012-06-30AeronauticsUSD 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.
2011-09-25restructuringin_progress2011-06-262012-06-30Space SystemsUSD 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.
2011-09-25voluntary_separationcompleted2010-09-262011-02-01Company-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.
2011-09-25restructuringin_progress2011-09-252012-06-30Information Systems & Global Solutions; Corporate HeadquartersUSD 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).
2011-09-25restructuringin_progress2011-06-262012-06-30AeronauticsUSD 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.
2011-09-25restructuringin_progress2011-06-262012-06-30Space SystemsUSD 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.
2011-09-25divestiture_reductionannounced2011-09-25Electronic 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.
2011-09-25divestiture_reductioncompleted2011-04-042011-04-04Information 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.
2011-09-25acquisition_additionannounced2011-09-272011-09-27Information 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.
2011-09-25restructuringin_progress2011-07-012012-06-30Information Systems & Global Solutions; Corporate HeadquartersUSD 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.
2011-09-25restructuringin_progress2011-04-012012-06-30Aeronautics; Space SystemsUSD 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.
2011-09-25voluntary_separationcompleted2010-07-012011-05-01CorporateUSD 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.
2011-06-26reduction_in_forcein_progress2011-04-012011-12-31AeronauticsUSD 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.
2011-06-26reduction_in_forcein_progress2011-04-012011-12-31Space SystemsUSD 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.
2011-06-26voluntary_separationcompleted2010-07-012011-06-26USD 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.
2011-06-26restructuringin_progress2011-12-31United StatesAeronauticsUSD 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.
2011-06-26restructuringin_progress2011-12-31United StatesSpace SystemsUSD 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.
2011-06-26restructuringin_progress2011-04-012011-12-31AeronauticsUSD 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.
2011-06-26restructuringin_progress2011-04-012011-12-31Space SystemsUSD 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.
2011-06-26voluntary_separationcompleted2010-07-012011-05-01CorporateUSD 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.
2011-03-27voluntary_separationin_progress2010-07USD 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.
2011-03-27voluntary_separationin_progress2010-07-012011-05-01United StatesCorporateUSD 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.
2011-03-27divestiture_reductioncompleted2010-06-012010-11-22United StatesInformation 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.
2011-03-27divestiture_reductioncompleted2010-06-012011-04-04United StatesInformation 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.
2011-03-27voluntary_separationin_progress2010-07-01USD 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.
2010-12-31voluntary_separationin_progress6002010-072011-02-01Company-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.
2010-12-31plant_closurein_progress20102013Eagan, Minnesota (facility closing); operations relocating to other MS2 locationsElectronic 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.
2010-12-31divestiture_reductioncompleted2010-062010-11-22IS&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.
2010-12-31divestiture_reductionin_progress2010-062011IS&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.
2010-12-31voluntary_separationin_progress6002010-07-312011-02-01United StatesCorporation-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.
2010-12-31plant_closurein_progress2010-10-012013-12-31United StatesElectronic 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.
2010-12-31divestiture_reductioncompleted2010-06-302010-11-22United StatesInformation 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.
2010-12-31divestiture_reductionannounced2011-02-222011-06-30United StatesInformation 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.
2010-12-31voluntary_separationcompleted6002010-07-012011-02-01GlobalExecutiveUSD 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.
2010-12-31restructuringin_progress2010-10-012013-12-31United StatesElectronic Systems - Mission Systems & SensorsUSD 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.
2010-12-31restructuringin_progressMission Systems and Sensors [Member]USD 42,000,000 (absolute)restructuring_footnote
f5-10k / no-ai-xblr
2010-09-26voluntary_separationin_progress6002010-07-012011-02-01Executives (company-wide); segment attribution: Aeronautics $25M, Electronic Systems $38M, IS&GS $42M, Space Systems $41M, Corporate $32MUSD 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).
2010-09-26voluntary_separationin_progress60025%2010-072011-02-01GlobalCorporate executivesUSD 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.
2010-09-26divestiture_reductionin_progress2010-062010-12-31GlobalInformation 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.
2010-09-26divestiture_reductionannounced2010-10-132010-12-31United StatesInformation 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.
2010-09-26voluntary_separationin_progress6002010-07-012011-02-01ExecutiveUSD 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.
2010-06-27voluntary_separationannounced2010-07-062011-02-01United StatesManagement 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.
2010-06-27divestiture_reductionannounced2010-06-012010-12-31Information 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.
2010-06-27divestiture_reductionannounced2010-06-012010-12-31Information 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.
2010-06-27voluntary_separationannounced2010-07-062010-09-07United StatesManagement employeesother
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.
2010-06-27voluntary_separationannounced2010-07-062011-02-01United StatesManagementsubsequent_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.
2008-12-31acquisition_additioncompleted2008-04-302008-04-30United StatesInformation Systems & Global Servicesbusiness_combinations_footnote
f5-10k / MiMo-V2.6-Flash-fp8-HTML
Acquisition of Eagle Group International, LLC completed in April 2008; headcount added not disclosed.
2008-12-31acquisition_additioncompleted2008-08-312008-08-31AustraliaElectronic SystemsItem_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.
2008-12-31acquisition_additioncompleted2008-09-302008-09-30United StatesElectronic SystemsItem_1_Business
f5-10k / MiMo-V2.6-Flash-fp8-HTML
Acquisition of Aculight Corporation completed in September 2008; headcount added not disclosed.
2007-12-31acquisition_additioncompleted2007-02-01United StatesInformation Systems & Global Servicesbusiness_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.
2007-12-31divestiture_reductioncompleted2007-04-01United StatesCorporate activitiesdiscontinued_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.
2006-12-31acquisition_additioncompleted2006-09Information Technology & Global Servicesbusiness_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.
2006-12-31acquisition_additioncompleted2006Integrated Systems & Solutionsbusiness_combinations_footnote
f5-10k / GLM-5.3-flash-HTML
Acquired Savi Technology, Inc., developer of active radio frequency identification solutions; headcount added not disclosed.
2006-12-31acquisition_additioncompleted2006Information Technology & Global Servicesbusiness_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.
2006-12-31acquisition_additioncompleted2006Electronic Systemsbusiness_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.
2006-12-31acquisition_additioncompleted2006Electronic Systemsbusiness_combinations_footnote
f5-10k / GLM-5.3-flash-HTML
Acquired HMT Vehicles, a military vehicle design company; headcount added not disclosed.
2006-12-31divestiture_reductioncompleted2006-10Space Systemsbusiness_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.
2006-12-31othercompleted2006-12-01Space Systems — Atlas launch vehicle businessbusiness_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.
2006-12-31restructuringannounced2007-02-22IT&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&GSsubsequent_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.
2006-12-31acquisition_additioncompletedUnited StatesIT&GS, IS&S, Electronic SystemsUSD 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.
2006-12-31divestiture_reductioncompleted2006-10-01International (Russia-related joint ventures)Space Systemsbusiness_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.
2006-12-31otherannounced2007-02-22United StatesEnterprise-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
2006-09-30acquisition_additioncompletedUnited StatesMultiple (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.
2006-09-30divestiture_reductionannounced2006-10Russia / InternationalSpace Systems — Launch Servicessubsequent_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.
2005-12-31acquisition_additioncompleted2005-032005-03United StatesInformation & Technology Servicesbusiness_combinations_footnote
f5-10k / MiMo-V2.6-Flash-fp8-HTML
Purchase of The SYTEX Group, Inc. for approximately $480 million; headcount added not disclosed
2005-12-31acquisition_additioncompleted20052005United States; United KingdomIntegrated Systems & Solutions; Electronic Systems; Space Systemsbusiness_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
2005-12-31acquisition_additioncompleted2006-012006-01United Statesothersubsequent_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
2005-09-30acquisition_additioncompleted2005-022005-02United KingdomIntegrated Systems & Solutionsother
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.
2005-09-30acquisition_additioncompleted2005-032005-03United StatesInformation & Technology Servicesother
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.
2005-09-30acquisition_additionannounced2005-102005-10United Statesother
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.
2005-03-31acquisition_additioncompleted2005-03-312005-03-31United StatesInformation & Technology Servicesbusiness_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.
2005-03-31acquisition_additioncompleted2005-022005-02United KingdomIntegrated Systems & Solutionsbusiness_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.
2004-12-31acquisition_additionannounced2005-02MD&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.
2004-12-31acquisition_additionannounced2005-022005United StatesInformation Technology services to DoD and federal agenciesMD&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.
2004-12-31divestiture_reductioncompleted20042004United StatesCOMSAT 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.
2004-12-31divestiture_reductioncompleted2004-112004-11InternationalNew 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.
2004-06-30divestiture_reductionannounced2004-052004-12-31United StatesSpace 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.
2003-12-31restructuringcompleted2003USD 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.
2003-12-31acquisition_additionannounced2003-09United Statesbusiness_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.
2003-12-31acquisition_additioncompleted2003-11United StatesInformation & Technology Servicesbusiness_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.
2003-12-31divestiture_reductioncompleted2003-11Information & 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.
2003-12-31acquisition_additioncompleted2003-112003-11United StatesInformation & Technology Servicesbusiness_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.
2003-12-31divestiture_reductioncompleted2003-112003-11United StatesInformation & Technology Services; Integrated Systems & SolutionsUSD 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.
2003-12-31restructuringcompleted2003-06-302003-12-31United StatesElectronic Systems — commercial mail sorting businessUSD 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.
2003-12-31acquisition_additionannounced2003-092004-03-31United StatesDefense and IT servicessubsequent_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.
2003-09-30restructuringcompletedUnited StatesCommercial mail sorting businessUSD 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.
2003-09-30acquisition_additioncompletedUnited StatesIntegrated Systems & Solutionsother
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.
2003-09-30acquisition_additionannounced2003-09-152004-03-31United StatesMD&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.
2003-09-30acquisition_additionannounced2003-08-012003-12-31United StatesFederal 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.
2003-09-30divestiture_reductionin_progressInternationalLockheed Martin Intersputnik (LMI) — telecommunications servicesother
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.
2003-06-30restructuringin_progressCommercial mail sorting businessUSD 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.
2003-06-30acquisition_additioncompletedIntegrated Systems and Solutionsbusiness_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.
2003-06-30acquisition_additionannounced2003-08-012003-12-31United StatesFederal government information technology businesssubsequent_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.
2003-06-30divestiture_reductionannounced2003-08-012003-12-31United StatesCommercial information technology businesssubsequent_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.
2002-12-31restructuringin_progress2001-07United StatesSpace Systems — Commercial SatelliteMD&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
2002-12-31divestiture_reductioncompletedUnited StatesDiscontinued 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
2002-12-31divestiture_reductioncompleted2002-10-31InternationalDiscontinued operations — COMSAT Internationaldiscontinued_operations_footnote
f5-10k / MiMo-V2.6-Flash-fp8-HTML
Sale of an 81% ownership interest completed October 2002; headcount not disclosed
2002-12-31divestiture_reductionannounced2002-072003-12-31InternationalDiscontinued 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
2002-12-31divestiture_reductioncompletedUnited StatesTechnology Services — Commercial Information TechnologyItem_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
2002-12-31divestiture_reductionannouncedChinaTechnology Services — Commercial Aircraft Services joint ventureItem_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
2002-12-31othercompletedUnited StatesTechnology 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
2002-03-31othercompleted2002-04-28United States (primarily Marietta, Georgia)AeronauticsMD&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.
2002-03-31othercompleted2002-04-28United States (primarily Marietta, Georgia)AeronauticsMD&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.
2002-03-31othercompleted2002-04-28Marietta, GeorgiaAeronauticsMD&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.
2001-12-31restructuringin_progress6502001-12-072002-12-31Global (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.
2001-12-31divestiture_reductioncompleted2001-08-242001-08-24United StatesCorporate 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.
2001-12-31divestiture_reductioncompleted2001-012001-01United 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.
2001-12-31acquisition_additioncompleted2001-12-072001-12-07United StatesTechnology 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.
2001-12-31plant_closurecompleted19982001-12-31United StatesCalComp 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.
2001-12-31restructuringin_progress6502001-12-07GlobalGlobal TelecommunicationsUSD 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
2001-12-31acquisition_additioncompleted2001-12-072001-12-07United StatesTechnology ServicesItem_1_Business
f5-10k / MiMo-V2.6-Flash-fp8-HTML
OAO Corporation acquired December 7, 2001; headcount added not disclosed
2001-12-31divestiture_reductioncompleted2001-08-242001-08-24United StatesCorporate and Otherdiscontinued_operations_footnote
f5-10k / MiMo-V2.6-Flash-fp8-HTML
Lockheed Martin IMS Corporation sold for $825M cash; headcount removed not disclosed
2001-12-31restructuringcompleted6502001-12-07GlobalGlobal TelecommunicationsMD&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.
2000-12-31divestiture_reductioncompleted2000-072000-11Systems 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.
2000-12-31divestiture_reductioncompleted2000-09-25Systems Integration - Control Systems businessother
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.
2000-12-31acquisition_additioncompleted1998-092000-08-03Global Telecommunicationsbusiness_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.
2000-12-31divestiture_reductioncompleted2001-01Environmental 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.
2000-12-31divestiture_reductioncompleted2000-12Systems Integration - Lockheed Martin Canada, adaptive notch filter (ANF) businessItem_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.
2000-12-31acquisition_additioncompleted1998-09-012000-08-03United StatesGlobal Telecommunicationsbusiness_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.
2000-12-31divestiture_reductioncompleted2000-07-012000-11-27United StatesSystems Integration — Aerospace Electronics SystemsUSD 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.
2000-12-31divestiture_reductioncompleted2000-07-012000-09-25United StatesSystems Integration — Control Systemsrestructuring_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.
2000-09-30acquisition_additioncompleted1998-092000-08-03United StatesGlobal Telecommunicationsbusiness_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.
2000-09-30divestiture_reductionannounced2000-07-132000-12-31United StatesSystems Integration — Aerospace Electronics SystemsUSD 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.
2000-09-30divestiture_reductioncompleted2000-07-132000-09-25United StatesControl SystemsMD&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.
2000-06-30divestiture_reductionannounced2000-04-012000-12-31United StatesLockheed Martin Control SystemsMD&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.
2000-06-30divestiture_reductionannounced2000-07-132000-12-31United StatesAerospace 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.
2000-06-30acquisition_additioncompleted1998-09-012000-08-03United StatesCorporate 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.
2000-06-30restructuringcompletedCalComp 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'.
2000-03-31divestiture_reductionannounced2000-04-272000-09-30United StatesLockheed Martin Control Systemssubsequent_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.
2000-03-31divestiture_reductionannounced2000-04-27United StatesAerospace electronics, environmental management, state and local government servicesMD&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.
2000-03-31restructuringin_progress1999-12-31United StatesCalComp 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.
2000-03-31restructuringin_progress2000-01-01United StatesAeronautical Systems and Space SystemsMD&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.
2000-03-31restructuringcompletedCalComp Technology, Inc.other
f5-10q / Qwen3.6-27B-Q8_0
CalComp terminated substantially all of its work force as part of corporate dissolution process.
1999-12-31plant_closurecompleted19981999-12-31CalComp 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.
1999-12-31restructuringin_progress1997Environmental 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.
1999-12-31divestiture_reductioncompleted1999-091999-12United StatesEnergy Programs (Technology Services) — subsidiary holding environmental management prime contract at DoE Hanford facilityItem_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.
1999-12-31divestiture_reductioncompleted1999-091999-09Airport Group International Holdings, LLCUSD 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.
1999-12-31divestiture_reductioncompleted1999-101999-10Real 3D, Inc. — commercial 3D graphics businessUSD 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.
1999-12-31divestiture_reductionannounced1999-09Aerospace 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.
1999-12-31restructuringannounced2000-01Aeronautical Systems and Space Systems segmentsMD&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.
1999-12-31restructuringcompleted19951999-12-31Corporate-wide consolidation following Lockheed–Martin Marietta mergerUSD 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.
1999-12-31restructuringannounced1999-09-27United StatesMultiple segments — Aerospace Electronics, Control Systems, Environmental Management, state and local government servicesItem_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.
1999-12-31restructuringannounced2000-01-01United StatesAeronautical Systems and Space Systems segmentsItem_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.
1999-12-31divestiture_reductioncompleted1999-09-011999-12-31United StatesTechnology 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.
1999-12-31plant_closurecompleted1998-10-011999-12-31United StatesCorporate 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.
1999-12-31divestiture_reductioncompleted1999-10-011999-10-31United StatesCorporate 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.
1999-12-31restructuringcompleted1999-09-011999-12-31United StatesCorporate and OtherUSD 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.
1999-12-31divestiture_reductioncompleted1999-12-011999-12-31United StatesTechnology ServicesMD&A
f5-10k / Qwen3.6-27B-Q8_0
Divestiture of environmental management subsidiary at Hanford facility. Impact on net earnings not material.
1999-09-30restructuringannounced1999-09-27United StatesCorporateMD&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.
1999-09-30divestiture_reductionannounced1999-09-27United StatesAerospace electronics, control systems, environmental managementMD&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.
1999-09-30plant_closurein_progress1998-10-011999-12-31United StatesCorporate 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.
1999-09-30restructuringcompleted1998-10-011999-12-31United StatesCorporate and OtherUSD 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.
1999-09-30restructuringin_progress1999-09-27GlobalCorporateMD&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.
1999-06-30restructuringin_progress1998-10-011999-12-31Information & ServicesUSD 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.
1999-03-31restructuringin_progress1999-09-30United StatesInformation & 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.
1999-03-31plant_closurein_progress1998-10-011999-09-30United StatesInformation & 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
1999-03-31restructuringin_progress75%1998-10-011999-09-30DomesticCalComp 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.
1998-12-31restructuringin_progress1998Information & 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.
1998-12-31divestiture_reductioncompleted1998Electronics (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.
1998-12-31divestiture_reductionannounced1998-12United 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.
1998-12-31restructuringin_progress1998-12-31United StatesInformation & ServicesUSD 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
1998-12-31divestiture_reductioncompletedElectronicsMD&A
f5-10k / MiMo-V2.6-Flash-fp8-HTML
Commercial Electronics unit divested during Q1 1998; no employee count or charge disclosed
1998-12-31restructuringcompleted1998-10-01Information & ServicesUSD 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.
1997-12-31restructuringin_progress12,00019951998-12-31United States and internationalCorporate-wideUSD 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.
1997-12-31restructuringin_progress1997Non-strategic lines of business — fixed price systems development (children and family services) and environmental remediationUSD 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.
1997-12-31divestiture_reductioncompleted1996-111997-01-02Armament 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.
1997-12-31divestiture_reductioncompleted1997-031997-04-3010 non-core business units repositioned as L-3 Communications Corporationdiscontinued_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.
1997-12-31divestiture_reductioncompleted1997-11-031997-11-17Access 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.
1997-12-31divestiture_reductioncompleted1997-11-031997-11-17United StatesInformation & Services; AeronauticsMD&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
1997-12-31divestiture_reductioncompleted1997-03-011997-04-30United StatesInformation & ServicesMD&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
1997-12-31divestiture_reductioncompleted1996-11-011997-01-02United StatesElectronicsMD&A
f5-10k / MiMo-V2.6-Flash-fp8-HTML
Armament Systems and Defense Systems business units sold to General Dynamics; no employee count disclosed
1997-12-31restructuringin_progress1995-04-011998-12-31United States and internationalCorporate-wideUSD 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
1997-12-31acquisition_additionannounced1997-07-03United StatesElectronics; Information & Services; Aeronautics; Energy and Othersubsequent_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
1997-12-31restructuringcompleted12,0001995-06-011998-12-31United States and abroadCorporate-wideUSD 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.
1997-12-31divestiture_reductioncompleted1996-11-011997-01-02United StatesArmament Systems and Defense SystemsMD&A
f5-10k / Qwen3.6-27B-Q8_0
Divestiture of Armament Systems and Defense Systems to General Dynamics. No employee count disclosed.
1997-12-31divestiture_reductioncompleted1997-03-011997-04-30United StatesL-3 Communications CorporationMD&A
f5-10k / Qwen3.6-27B-Q8_0
Repositioning of 10 non-core business units as L-3 Communications. No employee count disclosed.
1997-12-31divestiture_reductioncompleted1997-11-011997-11-17United StatesAccess Graphics and Thrust ReversersMD&A
f5-10k / Qwen3.6-27B-Q8_0
Exchange of Access Graphics and thrust reversers businesses to GE. No employee count disclosed.
1997-09-30divestiture_reductioncompleted4,9001997-021997-04-30United StatesMultiple non-core business unitsMD&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.
1997-09-30divestiture_reductioncompleted4,9001997-02-011997-04-30Non-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.
1997-06-30divestiture_reductioncompleted4,9001997-021997-04-30United States10 non-core business units repositioned as L-3 Communications CorporationMD&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.
1997-06-30acquisition_additionannounced1997-07-03United StatesNorthrop Grumman Corporation — full company combinationsubsequent_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.
1997-06-30divestiture_reductioncompleted4,9001997-02-011997-04-30Non-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.
1997-03-31divestiture_reductioncompleted4,9001997-031997-04-30United States10 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.
1997-03-31divestiture_reductioncompleted1997-01-02United StatesArmament Systems and Defense Systems businessesMD&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.
1997-03-31divestiture_reductioncompleted4,9001997-02-011997-04-30Non-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.
1996-12-31restructuringcompleted1,6001996Corporate-wide — reorganization of three sectors, facility closures and program relocationsother
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.
1996-12-31restructuringin_progress12,00019951998-12-31U.S. and internationalCorporate-wide — facility and laboratory closures, elimination of duplicative field officesUSD 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.
1996-12-31divestiture_reductioncompleted19961996-10-23Martin 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.
1996-12-31divestiture_reductioncompleted1996-111997-01-01Armament 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.
1996-12-31divestiture_reductionannounced4,9001997-01-311997-06-30Non-core component- and product-oriented businesses to be repositioned as Newco CorporationUSD 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.
1996-12-31plant_closurein_progress19961998-12-31Electronics Sector — consolidation of four facilitiesother
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.
1996-12-31plant_closurein_progress19961998-12-31Ontario, CaliforniaAeronautics Sector — Skunk Works Ontario plantother
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.
1996-12-31plant_closureannounced1996-10Charleston, South CarolinaAeronautics Sector — aircraft components plantother
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.
1996-12-31restructuringin_progress1995-06-301998-12-31United States and internationalCorporate-wideUSD 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.
1996-12-31acquisition_additioncompleted1996-01-071996-04-29United StatesElectronics; Information & Services; Energy, Materials and Otherbusiness_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.
1996-12-31restructuringcompleted1,6001996-12-311996-12-31United States and internationalThree reorganized sectorsother
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.
1996-12-31divestiture_reductioncompleted1996-10-231996-10-23United StatesEnergy, Materials and Otherother
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.
1996-12-31divestiture_reductioncompleted1996-11-301997-01-01United StatesElectronics — Armament Systems and Defense Systemsother
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.
1996-12-31divestiture_reductionannounced4,9001997-01-311997-06-30United StatesNon-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.
1996-12-31restructuringcompleted1,6001996GlobalCorporate-wideMD&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.
1996-12-31acquisition_additioncompleted1996-04-23GlobalElectronics, Information & Services, Energy & EnvironmentItem_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.
1996-12-31divestiture_reductioncompleted1996-10-23United StatesEnergy, Materials and OtherItem_1_Business
f5-10k / Qwen3.6-27B-Q8_0
Divestiture of Martin Marietta Materials, Inc. via exchange offer. Specific headcount removed not disclosed.
1996-12-31divestiture_reductioncompleted1997-01-02United StatesElectronicsItem_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.
1996-09-30restructuringin_progress12,0001995-04-01U.S. and abroadCorporate-wideUSD 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.
1996-09-30acquisition_additioncompleted1996-01-071996-04-29Electronics; C3I & Systems Integration; Information, Energy and OtherUSD 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.
1996-09-30divestiture_reductioncompleted1996-10-231996-10-23Martin 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.
1996-09-30divestiture_reductionannounced1996-11-071996-12-31Armament Systems and Defense Systems business unitsUSD 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.
1996-09-30acquisition_additioncompleted1996-01-071996-04-29United StatesElectronics, C3I & Systems Integration, Information Energy and Otherbusiness_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.
1996-09-30divestiture_reductioncompleted1996-07-011996-10-23United StatesMartin 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.
1996-09-30divestiture_reductionannounced1996-11-071996-12-31United StatesArmament Systems and Defense SystemsUSD 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.
1996-09-30restructuringin_progress12,0001996-01-01United States and abroadCorporate-wideUSD 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.
1996-09-30acquisition_additioncompleted1996-04-29Defense electronics and systems integrationbusiness_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.
1996-06-30restructuringin_progress12,0001995-06U.S. and abroadCorporate-wideUSD 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.
1996-06-30acquisition_additioncompleted1996-01-071996-04-29Information & Technology Services; ElectronicsUSD 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.
1996-06-30divestiture_reductionannounced1996-07-261996-12-31Energy, 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.
1996-06-30acquisition_additioncompleted1996-01-071996-04-29United StatesInformation & Technology Services; Electronicsbusiness_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.
1996-06-30divestiture_reductionannounced1996-07-261996-12-31United StatesEnergy, Materials and Othersubsequent_events
f5-10q / MiMo-V2.6-Flash-fp8-HTML
Martin Marietta Materials split-off via exchange offer of 81% stake; no headcount disclosed.
1996-06-30restructuringcompleted12,0001995-04-01United States and abroadCorporate-wideUSD 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.
1996-03-31acquisition_additioncompleted1996-01-071996-04-29United StatesDefense electronics and systems integrationbusiness_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.
1995-12-31restructuringin_progress12,0001995-06-262000-06-26United States and internationalCorporate-wideUSD 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
1995-12-31restructuringcompleted1995-01-011995-03-31United States and internationalCorporate-wideUSD 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
1995-12-31restructuringin_progress12,0001995-06-261999-12-31United States and abroadCorporate-wideUSD 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.
1995-09-30restructuringin_progress12,0001995-06-26United States and abroadCorporate-wideUSD 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.
1995-09-30restructuringin_progress1995-03-15Corporate-wideUSD 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.
1995-09-30restructuringin_progress12,0001995-06-262000-06-30United States and internationalCorporate-wideUSD 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.
1995-09-30restructuringcompleted1995-01-01United StatesCorporate headquarters and sector staffingUSD 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.
1995-09-30restructuringin_progress12,0001995-06-261997-06-26U.S. and abroadCorporate-wideUSD 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.
1995-06-30restructuringin_progress12,0001995-06-26United States and abroadCorporate-wideUSD 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.
1995-06-30restructuringin_progress1995-03-15Corporate-wideUSD 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.
1995-06-30restructuringin_progress12,0001995-06-262000-06-30United States and abroadCorporate-wideUSD 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.
1995-06-30restructuringin_progress1995-03-15United StatesCorporate headquarters and sector staffingUSD 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.
1995-06-30restructuringannounced12,0001995-06-261997-06-30U.S. and abroadCorporate-wideUSD 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.
1995-03-31restructuringin_progress1995-03-15Corporate headquarters and sector staffingUSD 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.
1995-03-31restructuringin_progress1995-03-31Headquarters and sector staffingUSD 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.
1994-12-31acquisition_additioncompleted1994-05-01United StatesSpace and Strategic MissilesUSD 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.
1994-12-31acquisition_additionin_progress1994-08-291995-03-15United StatesAll segmentsUSD 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.
1994-12-31restructuringannounced1995-03-15United StatesAll segmentsUSD 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.