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Cover and table of contents

10-K 1 d290249d10k.htm FORM 10-K

Table of Contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-K

ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2016

Commission file number 1-11437

LOCKHEED MARTIN CORPORATION

(Exact name of registrant as specified in its charter)

Maryland52-1893632
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)

6801 Rockledge Drive, Bethesda, Maryland 20817-1877 (301/897-6000)

(Address and telephone number of principal executive offices)

Securities registered pursuant to Section 12(b) of the Act:

Title of each className of each exchange on which registered
Common Stock, $1 par valueNew York Stock Exchange

Securities registered pursuant to Section 12(g) of the Act: None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No ☐

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☒Accelerated filer ☐Non-accelerated filer ☐Smaller reporting company ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

The aggregate market value of voting and non-voting common stock held by non-affiliates of the registrant computed by reference to the last sales price of such stock, as of the last business day of the registrant’s most recently completed second fiscal quarter, which was June 24, 2016, was approximately $72.1 billion.

There were 290,315,668 shares of our common stock, $1 par value per share, outstanding as of January 27, 2017.

DOCUMENTS INCORPORATED BY REFERENCE

Portions of Lockheed Martin Corporation’s 2017 Definitive Proxy Statement are incorporated by reference into Part III of this Form 10-K.

Table of Contents

Lockheed Martin Corporation

Form 10-K

For the Year Ended December 31, 2016

Table of Contents

PART IPage
ITEM 1.Business3
ITEM 1A.Risk Factors10
ITEM 1B.Unresolved Staff Comments19
ITEM 2.Properties20
ITEM 3.Legal Proceedings20
ITEM 4.Mine Safety Disclosures21
ITEM 4(a).Executive Officers of the Registrant22
PART II
ITEM 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities23
ITEM 6.Selected Financial Data25
ITEM 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations27
ITEM 7A.Quantitative and Qualitative Disclosures About Market Risk59
ITEM 8.Financial Statements and Supplementary Data61
ITEM 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure105
ITEM 9A.Controls and Procedures105
ITEM 9B.Other Information108
PART III
ITEM 10.Directors, Executive Officers and Corporate Governance108
ITEM 11.Executive Compensation108
ITEM 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters109
ITEM 13.Certain Relationships and Related Transactions, and Director Independence109
ITEM 14.Principal Accountant Fees and Services109
PART IV
ITEM 15.Exhibits and Financial Statement Schedules110
ITEM 16.Form 10-K Summary113
SIGNATURES114
Table of Contents

PART I

Next: Item 1. Business.