Summary
This Form 8-K/A filing by Lockheed Martin Corporation (LMT) serves as an amendment to a previous 8-K filed on June 27, 2003. The primary purpose of this amendment is to correct certain historical financial data for the year ended December 31, 2001, related to the newly formed Integrated Systems and Solutions (ISS) business segment and the Space Systems segment. Specifically, there were inaccuracies in the reporting of net sales, operating profit, margins, backlog, and assets between these two segments. Investors should note that this amendment corrects prior reporting errors and does not alter Lockheed Martin's overall historical consolidated financial condition or operating results. The company has also provided a detailed breakdown of its five principal business segments: Electronic Systems, Aeronautics, Space Systems, Technology Services, and the newly formed Integrated Systems and Solutions (ISS). This clarification aims to provide more accurate segment-level financial insights to investors.
Key Highlights
- 1Amendment to a prior 8-K filing to correct historical financial data for the year 2001.
- 2Correction of net sales, operating profit, margins, backlog, and assets for the Space Systems and Integrated Systems and Solutions (ISS) segments for the year ended December 31, 2001.
- 3The amendment clarifies the reclassification of certain operating companies into the new ISS segment.
- 4Lockheed Martin now operates with five principal business segments: Electronic Systems, Aeronautics, Space Systems, Technology Services, and Integrated Systems and Solutions (ISS).
- 5The filing provides updated segment-level financial data including net sales, operating profit, margins, depreciation, amortization, backlog, assets, goodwill, and customer advances for various periods.
- 6The 'Systems Integration' business segment has been renamed 'Electronic Systems'.
- 7The amendment confirms that historical consolidated financial condition and operating results remain unchanged.