Analysis of Debt
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- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- Common Stock Valuation Ratios
- Current Ratio since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Revenues
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Total Debt (Carrying Amount)
Lockheed Martin Corp., balance sheet: debt
US$ in millions
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Current maturities of long-term debt | ||||||
| Long-term debt, net, excluding current portion | ||||||
| Total outstanding debt (carrying amount) |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
The analysis of the debt data reveals several notable trends over the five-year period from December 31, 2020, to December 31, 2024.
- Current maturities of long-term debt
- This category shows a significant fluctuation. It started at 500 million US dollars at the end of 2020, dramatically decreased to 6 million by the end of 2021, then gradually increased to 118 million in 2022, 168 million in 2023, and surged to 643 million by the end of 2024. This pattern suggests variability in short-term debt obligations, with a marked spike in the most recent year, indicating a potential increase in debt that is due within one year.
- Long-term debt, net, excluding current portion
- The long-term debt portion excluding current maturities remained relatively stable between 2020 and 2021, with almost no change (11,669 million to 11,670 million). However, from 2022 onwards, there is a clear upward trajectory, increasing to 15,429 million in 2022, 17,291 million in 2023, and reaching 19,627 million in 2024. This consistent rise indicates expanded long-term borrowing or the accumulation of long-term liabilities.
- Total outstanding debt (carrying amount)
- The total outstanding debt mirrors the combined trends of current maturities and long-term debt. It slightly decreased from 12,169 million in 2020 to 11,676 million in 2021, followed by a significant rise to 15,547 million in 2022 and a continual increase to 17,459 million in 2023 and 20,270 million in 2024. The overall pattern points to growing debt levels over the period, with the most notable increases occurring after 2021.
In summary, the company has experienced a relatively stable long-term debt position at the beginning of the period, followed by significant growth in both long-term debt and total outstanding debt in recent years. The current maturities of long-term debt have shown pronounced volatility but ended with a substantial increase in the final year. This could indicate a restructuring or refinancing of debt obligations, or a shift towards nearer-term debt repayment requirements. The general trend suggests increasing leverage over the analyzed period.
Total Debt (Fair Value)
| Dec 31, 2024 | |
|---|---|
| Selected Financial Data (US$ in millions) | |
| Total outstanding debt (fair value) | |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | |
Based on: 10-K (reporting date: 2024-12-31).
Weighted-average Interest Rate on Debt
Weighted-average interest rate on debt:
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| Total | |||
Based on: 10-K (reporting date: 2024-12-31).
1 US$ in millions
2 Weighted-average interest rate = 100 × ÷ =