Lockheed Martin Corp., adjusted total assets

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Total assets	52,456)	52,880)	50,873)	50,710)	47,528)
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)
Less: Deferred tax assets²	2,953)	3,744)	2,290)	3,475)	3,319)
After Adjustment
Adjusted total assets	49,503)	49,136)	48,583)	47,235)	44,209)

¹ Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

² Deferred tax assets. See details »

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Lockheed Martin Corp., adjusted total liabilities

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Total liabilities	45,621)	43,614)	39,914)	44,672)	44,357)
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)
Less: Deferred tax liabilities (included in Other noncurrent liabilities)²	10)	5)	8)	7)	12)
After Adjustment
Adjusted total liabilities	45,611)	43,609)	39,906)	44,665)	44,345)

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Deferred tax liabilities (included in Other noncurrent liabilities). See details »

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Lockheed Martin Corp., adjusted stockholders’ equity

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Stockholders’ equity	6,835)	9,266)	10,959)	6,015)	3,127)
Adjustments
Less: Net deferred tax assets (liabilities)¹	2,943)	3,739)	2,282)	3,468)	3,307)
Add: Noncontrolling interests in subsidiary	—)	—)	—)	23)	44)
After Adjustment
Adjusted total equity	3,892)	5,527)	8,677)	2,570)	(136)

¹ Net deferred tax assets (liabilities). See details »

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Lockheed Martin Corp., adjusted capitalization table

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Current portion of long-term debt	168)	118)	6)	500)	1,250)
Long-term debt, net, excluding current portion	17,291)	15,429)	11,670)	11,669)	11,404)
Total reported debt	17,459)	15,547)	11,676)	12,169)	12,654)
Stockholders’ equity	6,835)	9,266)	10,959)	6,015)	3,127)
Total reported capital	24,294)	24,813)	22,635)	18,184)	15,781)
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)
Add: Current operating lease liabilities²	315)	301)	300)	274)	250)
Add: Noncurrent operating lease liabilities³	862)	916)	1,100)	841)	855)
Adjusted total debt	18,636)	16,764)	13,076)	13,284)	13,759)
Adjustments to Equity
Less: Net deferred tax assets (liabilities)⁴	2,943)	3,739)	2,282)	3,468)	3,307)
Add: Noncontrolling interests in subsidiary	—)	—)	—)	23)	44)
Adjusted total equity	3,892)	5,527)	8,677)	2,570)	(136)
After Adjustment
Adjusted total capital	22,528)	22,291)	21,753)	15,854)	13,623)

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Current operating lease liabilities. See details »

³ Noncurrent operating lease liabilities. See details »

⁴ Net deferred tax assets (liabilities). See details »

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Lockheed Martin Corp., adjusted net earnings

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Net earnings	6,920)	5,732)	6,315)	6,833)	6,230)
Adjustments
Add: Deferred income tax expense (benefit)¹	(498)	(757)	(183)	5)	222)
Less: Net loss from discontinued operations	—)	—)	—)	(55)	—)
Add: Other comprehensive income (loss), net of tax	(780)	2,983)	5,115)	(567)	(1,233)
After Adjustment
Adjusted net earnings	5,642)	7,958)	11,247)	6,326)	5,219)

¹ Deferred income tax expense (benefit). See details »

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Lockheed Martin Corp. (NYSE:LMT)

Adjustments to Financial Statements