Lockheed Martin — Jan 28, 2025 release

For additional factors that may impact the company's actual results, refer to the “Forward-Looking Statements” section in this news release.   (in millions, except per share data)   2024 As Reported 2024 As Adjusted 1 2025 Outlook 2           Net sales   $71,043 $71,208 ~$73,750 - $74,750       Business segment operating profit 1   $6,083 $7,893 ~$8,100 - $8,200 Total FAS/CAS pension adjustment $1,686 $1,686 ~$1,125 Diluted earnings per share $22.31 $27.99 ~$27.00 - $27.30     Cash from operations $6,972 $7,807 ~$8,500 - $8,700 Capital expenditures $1,685 $1,685 ~$1,900 Free cash flow 1 $5,287 $6,122 ~$6,600 - $6,800 1 All 2024 As Adjusted amounts as well as business segment operating profit and free cash flow are non-GAAP measures. See the "Use of Non-GAAP Financial Measures" section of this news release for more information. 2 The company’s current 2025 financial outlook does not include any future gains or losses related to changes in valuations of the company's net assets and liabilities for deferred compensation plans or early-stage company investments. The company’s financial outlook for 2025 assumes that fiscal year 2025 appropriations bills are adopted in a timely manner, the company’s programs remain funded and that the U.S. Government does not shutdown or continue to operate under a continuing resolution for the remainder of 2025. 4 Cash Flows and Capital Deployment Activities The decrease in operating and free cash flows in the quarter and year ended Dec