The operating results, financial position and cash flows for the DES business were not significant to the corporation and, accordingly, have not been reclassified to discontinued operations.In the quarter and year ended Dec. 31, 2018, the corporation recognized a non-cash asset impairment charge of $110 million ($83 million, or $0.29 per share, after tax) related to its investment in Advanced Military Maintenance, Repair and Overhaul Center (AMMROC).Net earnings for the year ended Dec. 31, 2019 include benefits of $127 million ($0.45 per share) for additional tax deductions for the prior year, primarily attributable to foreign derived intangible income treatment based on proposed tax regulations released on March 4, 2019 and the corporation's change in tax accounting method. I 2017 Annual Report DEAR FELLOW STOCKHOLDERS: Throughout 2017, Lockheed Martin demonstrated our leadership as the world’s premier aerospace and defense company.
2017 Proxy Statement 2.4 MB.
These statements are not guarantees of future performance and are subject to risks and uncertainties. * Lockheed Martin reports fourth quarter and full year 2016 results * Q4 earnings per share $3.25 from continuing operations * Q4 sales $13.8 billion versus I/B/E/S view $13.03 billion 2018 Annual Report.
This reduction was offset by about $900 million due to recognition of previously deferred amounts.Represents dividends of $2.40 per share declared for the fourth quarter of 2019 and $2.20 per share declared for the first, second and third quarters of 2019.The corporation projects FAS pension income in 2020, compared to FAS pension expense in 2019, as a result of completing the planned freeze of its salaried pension plans effective Jan. 1, 2020 that was previously announced on July 1, 2014. 2013 Annual Report. 2016 Annual Report 1.7 MB. © 2020 Lockheed Martin Corporation. "The corporation delivered outstanding performance throughout 2019, achieving exceptional sales growth, strong earnings, cash from operations, and a record backlog," said Lockheed Martin Chairman, President and CEO The following table presents the corporation's summary financial results.The following table and other sections of this news release contain forward-looking statements, which are based on the corporation's current expectations. The following information was filed by Lockheed Martin Corp (LMT) on Tuesday, January 28, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. FINANCIALHIGHLIGHTS Inmillions, except per share data 2015 2014 2013 Net Sales $ ... For additional information regarding the amounts presented above see the Form 10-K portion of this Annual Report. 2014 Annual Report.
The following table presents summary operating results of the corporation's business segments and reconciles these amounts to the corporation's consolidated financial results.Net sales and operating profit of the corporation's business segments exclude intersegment sales, cost of sales, and profit as these activities are eliminated in consolidation.
In addition, the corporation's definitions for non-GAAP financial measures may differ from similarly titled measures used by other companies or analysts.Business segment operating profit represents operating profit from the corporation's business segments before unallocated income and expense. 2008 Annual Report. For a discussion identifying additional important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, see the corporation's filings with the U.S. Securities and Exchange Commission including, but not limited to, "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" in the corporation's Annual Report on Form 10-K for the year ended Dec. 31, 2018 and subsequent quarterly reports on Form 10-Q.
Favorable items may include the positive resolution of contractual matters, cost recoveries on severance and restructuring charges, insurance recoveries and gains on sales of assets. We continued to put our customers at the center of all that we do.
Increases or decreases in profit booking rates are recognized in the current period and reflect the inception-to-date effect of such changes.Segment operating profit and margin may also be impacted favorably or unfavorably by other items, which may or may not impact sales. Stock Price Cash provided by operating activities for the year ended Dec. 31, 2018 is after annual pension contributions of $5.0 billion and includes $870 million of tax refunds.At Dec. 31, 2019 the corporation recognized a non-cash, after-tax reduction to stockholders' equity of $2.2 billion as a result of the year-end re-measurement of its postretirement benefit plans. As a result, the expected return on plan assets and amortization of prior service credit exceed all other FAS pension expense components in 2020.
ARLINGTON, Va., March 15, 2016 /PRNewswire/ -- Lockheed Martin (NYSE: LMT) Chairman, President and Chief Executive Officer Marillyn Hewson shared the Corporation's 2016 business strategy during the annual Media Day event. Net earnings from continuing operations in the fourth quarter of 2016 were $959 million, or $3.25 per share, compared to $817 million, or $2.63 per share, in the fourth quarter of 2015. Management Plan.
It is headquartered in North Bethesda, Maryland, in the Washington, D.C., area.Lockheed Martin employs approximately 110,000 people worldwide as of January 2020. Volume changes in segment operating profit are typically based on the current profit booking rate for a particular contract.
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