Sign In
Search
Business/Financial

Lockheed Martin To Take $1.5 Billion Charge After Transferring Pension Obligations

Cal Biesecker By
SHARE:
Lockheed Martin To Take $1.5 Billion Charge After Transferring Pension Obligations
James Taiclet, chairman, president and CEO of Lockheed Martin. Photo: Lockheed Martin

Lockheed Martin [LMT] on Monday said it will take a $1.5 billion non-cash charge when it reports second quarter financial results after purchasing group annuity contracts that will see it transfer about $4.3 billion in gross pension obligations and related plan assets to Athene Holding Ltd. [ATH]. The non-operating charge will be about $1.2 billion after taxes and clip $4.50 from per share earnings. The company said the actual settlement charge will depend on final actuarial assumptions. The charge was…

Subscriber-only content. Please log in below.

Not a subscriber or registered user yet?

Please contact us at clientservices@accessintel.com or call us at 888-707-5814 (Monday – Thursday 9:00 a.m. – 5:30 p.m. and Friday 9:00 a.m. – 3:00 p.m. ET.), to start a free trial, get pricing information, order a reprint, or post an article link on your website.

Recommended

Business/Financial

Singularity, Startup Developing Low-Cost Air Defense Systems, Exits Stealth With $80 Million Round

Business/Financial

Pentagon’s Strategic Capital Office To Support Credit Funds Investing In Critical Minerals Companies

Business/Financial

Lockheed Martin To Acquire ASW Technology Developer Ultra Maritime For $3.5 Billion

Business/Financial

Lockheed Martin Carves Out $100 Million For Venture Fund In UK, Europe

Trending

At Least 15 F-35s “DD-250’ed” Since May 2025
Singularity, Startup Developing Low-Cost Air Defense Systems, Exits Stealth With $80 Million Round
L3Harris And Sierra Space Receive $1.75 Billion For SDA Tranche 3, Tracking Layer
Pentagon Suspends CMMC Phase II Plans, Cites Concerns With Compliance ‘Burdens’
Defense Watch: B-21 Crew, T-7 Delay, IBCS Test, Counter-Drone Guide, UGV Raise

Congress Updates

Congress

House Republicans’ Blueprint For Reconciliation 3.0 Includes $60 Billion For Defense

House Republicans on Wednesday unveiled a blueprint for a third reconciliation bill that includes $60 billion for defense, a figure slightly below the Trump administration’s request to cover Iran war […]

Congress

Senate Dems Block Consideration Of FY ‘27 NDAA Over Iran War Concerns

Senate Democrats on Tuesday blocked a vote to advance consideration of the chamber’s $1.14 trillion fiscal year 2027 National Defense Authorization (NDAA). The procedural vote was 46-50, failing to reach […]

Congress

Concerns Raised At SASC Hearing On Unobligated Reconciliation Funds And Lack Of Updates On Iran War Cost

Members of the Senate Armed Services Committee (SASC) raised concerns at a hearing on Tuesday about the majority of funds in the $153 billion first reconciliation bill being unobligated thus […]

Unmanned Systems

CBO Says Upfront Costs To Protect Military Installations From Drones Between $1 Million And $74 Million

The initial costs to acquire and deploy counter-small unmanned aircraft system (C-sUAS) defenses at individual Defense Department installations are estimated at between $1.2 million and $73.6 million depending on the […]

The Force Multipliers

Force Multipliers

Michael Harrison – SANS Institute

Force Multipliers

Michael DiOrio – Dataminr

Force Multipliers

Arne Brinck – Dark Wolf Solutions

Force Multipliers

Jags Kandasamy – Latent AI

Job Feed

Post a Job // Post a Resume