Lockheed Martin — Jan 28, 2025 release

31, 2024 included losses of $1.7 billion ($1.3 billion, or $5.45 per share, after-tax) and $2.0 billion ($1.5 billion, or $6.16 per share, after-tax) at its Aeronautics and MFC business segments as a result of classified programs losses previously described. 17 Lockheed Martin Corporation Selected Financial Data (unaudited; in millions) 2025 Outlook 2024 Actual Total FAS (expense) income and CAS cost FAS pension (expense) income $ (445) $ 2  Less: CAS pension cost 1,570   1,684  Total FAS/CAS pension adjustment $ 1,125   $ 1,686  Service and non-service cost reconciliation FAS pension service cost $ (50) $ (60) Less: CAS pension cost 1,570   1,684  Total FAS/CAS pension operating adjustment 1,520   1,624  Non-service FAS pension (expense) income (395) 62  Total FAS/CAS pension adjustment $ 1,125   $ 1,686  18 Lockheed Martin Corporation Consolidated Balance Sheets (unaudited, in millions, except par value) Dec. 31, 2024 Dec. 31, 2023 Assets Current assets Cash and cash equivalents $ 2,483   $ 1,442  Receivables, net 2,351   2,132  Contract assets 12,957   13,183  Inventories 3,474   3,132  Other current assets 584   632  Total current assets 21,849   20,521  Property, plant and equipment, net 8,726   8,370  Goodwill 11,067   10,799  Intangible assets, net 2,015   2,212  Deferred income taxes 3,557   2,953  Other noncurrent assets 8,403   7,601  Total assets $ 55,617   $ 52,456  Liabilities and equity Current liabilities Accounts payable $ 2,222   $ 2,312  Salaries, benefits and payroll taxes 3,125   3,133  Contract liabilities 9,795   9,190  Current maturities of long-term debt 643   168  Other current liabilities 3,635   2,134  Total current lia