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<p style="margin-top: 12px; text-indent: 4%; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>Organization</b> – Lockheed Martin Corporation is a global security company that principally is engaged in the research, design, development, manufacture, integration, and sustainment of advanced technology systems and products. We also provide a broad range of management, engineering, technical, scientific, logistic, and information services. We serve both domestic and international customers with products and services that have defense, civil, and commercial applications, with our principal customers being agencies of the U.S. Government. </font></p></div> </div>Organization – Lockheed Martin Corporation is a global security company that principally is engaged in the research, design, development, manufacture,falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringOrganization Policy [Text Block]No authoritative reference available.falsefalse4false0us-gaap_ConsolidationPolicyTextBlockus-gaaptruenadurationNo definition available.falsef
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<p style="margin-top: 12px; text-indent: 4%; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>Basis of consolidation and classifications</b> – Our consolidated financial statements include the accounts of subsidiaries we control and other entities where we are the primary beneficiary. We eliminate intercompany balances and transactions in consolidation. Our receivables, inventories, customer advances, and certain amounts in other current liabilities primarily are attributable to long-term contracts or programs in progress for which the related operating cycles are longer than one year. In accordance with industry practice, we include these items in Current Assets and Current Liabilities. We have reclassified certain amounts for prior years to conform to the 2010 presentation. </font></p></div> </div>Basis of consolidation and classifications – Our consolidated fi
nancial statements include the accounts of subsidiaries we control and other entitiesfalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDescribes an entity's accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example common stock, a partnership interest or other means of exerting influence) in other entities, for example
consolidation or use of the equity or cost methods of accounting. An entity also may describe its accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary.Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 46R
-Paragraph 4
-Subparagraph c
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph k
-Article 1
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 18
-Paragraph 5, 6, 16-19
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02, 03
-Article 3A
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 2-6
Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 140
-Paragraph 46
Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 18
-Paragraph 20
-Subparagraph a(2)
Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 46R
-Paragraph 4
-Subparagraph d
Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 97-2
Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 96-16
Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 46R
-Paragraph 14, 15
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<p style="margin-top: 12px; text-indent: 4%; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>Use of estimates</b> – We prepare our consolidated financial statements in conformity with U.S. generally accepted accounting principles (GAAP). In doing so, we are required to make estimates and assumptions that affect the reported amounts in the financial statements and accompanying notes. Our actual results may differ from those estimates. </font></p></div> </div>Use of estimates – We prepare our consolidated financial statements in conformity with U.S. generally accepted accounting principles (GAAP). In doing so,falsefalsefalsefalse<
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<p style="margin-top: 12px; text-indent: 4%; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>Receivables</b> – Receivables include amounts billed and currently due from customers, and unbilled costs and accrued profits primarily related to revenues on long-term contracts that have been recognized for accounting purposes but not yet billed to customers. As we recognize those revenues, we reflect appropriate amounts of customer advances, performance-based payments, and progress payments as an offset to the related receivables balance. </font></p></div> </div>Receivables – Receivables include amounts billed and currently due from customers, and unbilled costs and accrued profits primarily related to revenuesfalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDescribes an entity's accounting policy for trade and other accounts receivable, and finance, loan and lease receivables, including those classified as held for investment and held for sale. This disclosure may include (1) the basis at which such receivables are carried in the entity's statements of financial position (2) how the level of the valuation allowance for receivables is determined (3) when impairments, charge-offs or recoveries are recognized for such receivables (4) the treatment of origination fees and costs, including the amortization method for net deferred fees or costs (5) the treatment of any premiums or discounts or unearned income (6) the entity's income recognition policies fo
r such receivables, including those that are impaired, past due or placed on nonaccrual status and (7) the treatment of foreclosures or repossessions (8) the nature and amount of any guarantees to repurchase receivables.Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 3-5
-Article 5
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 114
-Paragraph 20
-Subparagraph b
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 92-5
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 01-6
-Paragraph 13
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<p style="margin-top: 12px; text-indent: 4%; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>Inventories</b> – We record inventories at the lower of cost or estimated net realizable value. Costs on long-term contracts and programs in progress represent recoverable costs incurred for production or contract-specific facilities and equipment, allocable operating overhead, advances to suppliers and, in the case of contracts with the U.S. Government, research and development and general and administrative expenses. Pursuant to contract provisions, agencies of the U.S. Government and certain other customers have title to, or a security interest in, inventories related to such contracts as a result of advances, performance-based payments, and progress payments. We reflect those advances and payments as an offset against the related inventory balances. We expense general and administrative costs related to products and services provided essen
tially under commercial terms and conditions as incurred. We determine the costs of other product and supply inventories by the first-in first-out or average cost methods. </font></p></div> </div>Inventories – We record inventories at the lower of cost or estimated net realizable value. Costs on long-term contracts and programs in progressfalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDescribes an entity's accounting policies covering its major classes of inventories, bases of stating inventories (for example lowe
r of cost or market), methods by which amounts are added and removed from inventory classes (for example FIFO, LIFO, or average cost), loss recognition on impairment of inventories, and situations in which inventories are stated above cost. If inventory is carried at cost, this description includes the nature of the cost elements included in inventory.Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Financial Reporting Release (FRR)
-Number 206
-Chapter 2
-Paragraph b
-Subparagraph i, ii
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Chapter 4
-Paragraph 3, 5-10, 15, 16, 17
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 6
-Subparagraph a
-Article 5
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Chapter 3
-Section A
-Paragraph 9
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 81-1
-Paragraph 69-75
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<p style="margin-top: 12px; text-indent: 4%; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>Property, plant and equipment</b> – We include property, plant, and equipment on our Balance Sheets principally at cost. We provide for depreciation and amortization on plant and equipment generally using accelerated methods during the first half of the estimated useful lives of the assets, and the straight-line method thereafter. The estimated useful lives of our plant and equipment generally range from <font class="_mt">10</font> to <font class="_mt">40</font> years for buildings and <font class="_mt">five</font> to <font class="_mt">15</font> years for machinery and equipment. </font></p>
<p style="margin-top: 12px; text-indent: 4%; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">We review the carrying values of long-lived assets for impairment if events or changes in the facts and circumstances indicate that their carrying values may not be recoverable. We assess impairment by comparing the estimated undiscounted future cash flows of the related asset to its carrying value. If an asset is determined to be impaired, we recognize an impairment charge in the current period for the difference between the fair value of the asset and its carrying value. </font></p></div> </div>Property, plant and equipment – We include property, plant, and equipment on our Balance Sheets principally at cost. We provide for depreciation andfalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDescribes an entity's accounting policy for property, plant and equipment which may include the basis of such assets, depreciation methods used and estimated useful lives, the entity's capitalization policy, including its accounting treatment for costs incurred for repairs and maintenance activities, whether such asset balances include capitalized interest and the method by which such is calculated, how disposals of such assets are accounted for and how impairment of such assets is assessed and recognized.Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Chapter 9
-Section C
-Paragraph 5
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 144
-Paragraph 7
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-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 22
-Paragraph 12, 13
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 34
-Paragraph 8, 9
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 13
-Subparagraph a
-Article 5
Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 12
-Paragraph 5
-Subparagraph d
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<p style="margin-top: 12px; text-indent: 4%; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>Goodwill</b> – We evaluate goodwill for potential impairment annually on October 1, or if impairment indicators are present. Our evaluation includes comparing the fair value of a reporting unit, using a discounted cash flow methodology, to its carrying value including goodwill recorded by the reporting unit. If the carrying value exceeds the fair value, we measure impairment by comparing the derived fair value of goodwill to its carrying value, and any impairment determined is recorded in the current period. We define reporting units at the business segment level or one level below the business segment. The decrease in goodwill from 2009 to 2010 primarily was due to the sale of Enterprise Integration Group and the reclassification of Pacific Architects and Engineers, Inc.'s assets and liabilities to discontinued operations at December
31, 2010 (see Note 2). </font></p></div> </div>Goodwill – We evaluate goodwill for potential impairment annually on October 1, or if impairment indicators are present. Our evaluation includesfalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringGoodwill, policy [Text Block]No authoritative reference available.falsefalse10false0lmt_CapitalizedSoftwarePolicyTextBlocklmtfalsenadurationCapitalized Software, Policy [Text Block]falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1falsefalsefalse00<div
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<p style="margin-top: 12px; text-indent: 4%; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>Capitalized software</b> – We capitalize certain direct costs associated with the development or purchase of internal-use software. Expenditures are included in operating activities on our Statements of Cash Flows. The amounts capitalized are included in other assets on our Balance Sheets and amortized on a straight-line basis over the estimated useful life of the resulting software, which ranges from <font class="_mt">two</font> to <font class="_mt">six</font> years. We amortize capitalized internal-use software beginning when the asset is substantially ready for use. As of December 31, 2010 and 2009, capitalized software totaled $<font class="_mt">899</font> million and $<font class="_mt">887</font> million, net of accumulated amortization of $<font class="_mt">
1,097</font> million and $<font class="_mt">948</font> million. Amortization expense related to capitalized software was $<font class="_mt">149</font> million in 2010, $<font class="_mt">152</font> million in 2009, and $<font class="_mt">135</font> million in 2008. </font></p></div> </div>Capitalized software – We capitalize certain direct costs associated with the development or purchase of internal-use software. Expenditures are includedfalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringCapitalized Software, Policy [Text Block]No authoritative reference available.falsefalse11false0lmt_CustomerAdvancesAndAmountsInExcessOfCostIncurredPolicyTextBlocklmtfalsenadurationCustomer advances and amounts in excess of cost incurred, policy, text blockfalsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1falsefalsefalse00<div> <div class="MetaData">
<p style="margin-top: 12px; text-indent: 4%; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>Customer advances and amounts in excess of cost incurred</b> – We receive advances, performance-based payments, and progress payments from customers that may exceed costs incurred on certain contracts, including contracts with agencies of the U.S. Government. We classify such advances, other than those reflected as a reduction of receivables or inventories as discussed above, as Current Liabilities. </font></p></div> </div>Customer advances and amounts in excess of cost incurred – We receive advances, performance-based payments, and progress payments from customers that mayfalsefalsefals
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<p style="margin-top: 12px; text-indent: 4%; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>Postretirement benefit plans</b> – Most of our employees are covered by defined benefit pension plans, and we provide certain health care and life insurance benefits to eligible retirees (collectively, postretirement benefit plans). GAAP requires that the amounts we record related to our plans be computed using actuarial valuations that are based in part on certain key assumptions we make, including the discount rate, the expected long-term rate of return on plan assets, the rates of increase in future compensation levels, and health care cost trend rates, each as appropriate based on the nature of the plans. We recognize on a plan-by-plan basis the funded status of our postretirement benefit plans under GAAP as either an asset or liability on our Balance Sheets, with a corresponding adjustment to accumulated other comprehensive loss, net of t
ax, in stockholders' equity. The funded status is measured as the difference between the fair value of the plan's assets and the benefit obligation of the plan. </font></p></div> </div>Postretirement benefit plans – Most of our employees are covered by defined benefit pension plans, and we provide certain health care and life insurancefalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringPost retirement benefit plan Policy Text BlockNo authoritative reference available.falsefalse13false0lmt_EnvironmentalMattersPolicyTextBlocklmtfalsenadurationEnvironmental Matters Policy [Text Block]falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1falsefalsefalse00<div> <div class="MetaData">
<p style="margin-top: 12px; text-indent: 4%; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>Environmental matters</b> – We record a liability for environmental matters when it is probable that a liability has been incurred and the amount can be reasonably estimated. The amount of liability recorded is based on our best estimate of the costs to be incurred for remediation at a particular site within a range of estimates for that site or, in cases where no amount within the range is better than another, we record an amount at the low end of the range. We do not discount the recorded liabilities, as the amount and timing of future cash payments are not fixed or cannot be reliably determined. We expect to include a substantial portion of environmental costs in net sales and cost of sales in future periods pursuant to U.S. Government agreement or regulation. At the time a liability is recorded for future environmental costs, we record an
asset for estimated future recovery considered probable through the pricing of products and services to agencies of the U.S. Government. We include the portion of those costs expected to be allocated to our non-U.S. Government contracts or that is determined to be unallowable for pricing under U.S. Government contracts in cost of sales at the time the liability is established. </font></p></div> </div>Environmental matters – We record a liability for environmental matters when it is probable that a liability has been incurred and the amount can befalsefalsefalsefalsefalseOtherus-types:textBlockItem
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<p style="margin-top: 12px; text-indent: 4%; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>Sales and earnings</b> – We record net sales and estimated profits on a percentage-of-completion (POC) basis for cost-reimbursable and fixed-price design, development, and production (DD&P) contracts. Revenue is recorded on time-and-materials contracts as the work is performed based on agreed-upon hourly rates and allowable costs. The POC method for DD&P contracts depends on the nature of the products provided under the contract. For example, for contracts that require us to perform a significant level of development effort in comparison to the total value of the contract and/or to deliver less than substantial quantities of similar items, sales are recorded using the cost-to-cost method to measure progress toward completion. Under the cost-to-cost method of accounting, we recognize sales and an estimated profit as costs are in
curred based on the proportion that the incurred costs bear to total estimated costs. For contracts that require us to provide a substantial number of similar items without a significant level of development effort, we record sales and profit on a percentage-of-completion basis using units-of-delivery as the basis to measure progress toward completing the contract. </font></p>
<p style="margin-top: 12px; text-indent: 4%; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">When adjustments in estimated contract revenues or estimated costs at completion are required on DD&P contracts, any changes from prior estimates are recognized in the current period for the inception-to-date effect of the changes. When estimates of total costs to be incurred on a contract exceed total estimates of revenue to be earned, a provision for the entire loss on the contract is recorded in the period in which the loss is determined. </font></p>
<p style="margin-top: 12px; text-indent: 4%; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">Award fees and incentives, as well as penalties related to contract performance, are considered in estimating sales and profit rates on DD&P contracts. We consider estimates of award fees in estimating sales and profit rates based on past experience and anticipated performance. We record incentives or penalties when there is sufficient information to assess anticipated contract performance. We do not recognize incentive provisions that increase or decrease earnings based solely on a single significant event until the event occurs. We only include amounts representing contract change orders, claims, or other items in contract value when they can be reliably estimated and realization is probable. </font></p>
<p style="margin-top: 12px; text-indent: 4%; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">For cost-reimbursable contracts for services that provide for award and incentive fees, we record net sales as services are performed, except for the award and incentive fees. Award and incentive fees are recorded when they are fixed or determinable, generally at the date the amount is communicated to us by the customer. This approach results in the recognition of such fees at contractual intervals (typically every six months) throughout the contract and is dependent on the customer's processes for notification of awards and issuance of formal notifications. Under a fixed-price service contract, we get paid a predetermined fixed amount for a specified scope of work and generally have full responsibility for the costs associated with the contract and the resulting profit or loss. We record net sales under fixed-price service contracts on a straight-line basis over the
period of contract performance, unless evidence suggests that net sales are earned or the obligations are fulfilled in a different pattern. Costs for all service contracts are expensed as incurred. </font></p>
<p style="margin-top: 12px; text-indent: 4%; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><i>Change in Accounting Principle</i> – Effective January 1, 2011, we changed our methodology for recognizing net sales for service contracts with the U.S. Government. We will recognize sales on those contracts using the POC method similar to our DD&P contracts as described above. As such, we expect that approximately <font class="_mt">95</font>% of our consolidated net sales will be recognized using the POC method. We believe the POC method is preferable, as consistent revenue recognition application across all contracts with the U.S. Government better reflects the underlying economics of those contracts and aligns our financial reporting with others in our industry. Beginning with our first quarter 2011 financial statements, all prior periods presented will be retrospectively adjusted to apply the new metho
d of accounting. The effect of this change is expected to be <font class="_mt">less than one percent</font> of net sales and segment operating profit in 2011, and was not material to prior periods. </font></p></div> </div>Sales and earnings – We record net sales and estimated profits on a percentage-of-completion (POC) basis for cost-reimbursable and fixed-price design,falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDescribes an entity's accounting policy for revenue recognition. If the entity
has different policies for different types of revenue transactions, the policy for each material type of transaction should be disclosed. If a sales transaction has multiple element arrangements (for example, delivery of multiple products, services or the rights to use assets) the disclosure may indicate the accounting policy for each unit of accounting as well as how units of accounting are determined and valued. The disclosure may encompass important judgment as to appropriateness of principles related to recognition of revenue. The disclosure also may indicate the entity's treatment of any unearned or deferred revenue that arises from the transaction.Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 13
-Section B
-Paragraph Question 1
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 22
-Paragraph 8, 12, 13
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<p style="margin-top: 12px; text-indent: 4%; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>Research and development and similar costs</b> – Except for certain arrangements described below, we account for independent research and development costs as part of the general and administrative costs that are allocated among all of our contracts and programs in progress under U.S. Government contractual arrangements. Costs for product development initiatives we sponsor that are not otherwise allocable are charged to expense when incurred. Under some arrangements in which a customer shares in product development costs, our portion of unreimbursed costs is expensed as incurred. Independent research and development costs charged to cost of sales totaled $<font class="_mt">638</font> million in 2010, $<font class="_mt">724</font> million in 2009, and $<font class="_mt">698</font> million in 2008. Costs we in
cur under customer-sponsored research and development programs pursuant to contracts are included in net sales and cost of sales. </font></p></div> </div>Research and development and similar costs – Except for certain arrangements described below, we account for independent research and development costsfalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringResearch and development and similar costs policyNo authoritative reference available.falsefalse16false0us-gaap_InvestmentPolicyTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1falsefalsef
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<p style="margin-top: 12px; text-indent: 4%; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>Investments in marketable securities</b> – Investments in marketable securities consist of debt and equity securities and are classified as either available-for-sale securities or trading securities. If classified as available-for-sale securities, unrealized gains and losses are reflected net of income taxes in accumulated other comprehensive loss on the Statements of Stockholders' Equity. If classified as trading securities, unrealized gains and losses are recorded in other non-operating income (expense), net on the Statements of Earnings. If declines in the value of available-for-sale securities are determined to be other than temporary, a loss is recorded in earnings in the current period. We make such determinations by considering, among other factors, the length of time the fair value of the investment has been less than the carrying valu
e, future business prospects for the investee, and information regarding market and industry trends for the investee's business, if available. For purposes of computing realized gains and losses on marketable securities, we determine cost on a specific identification basis. </font></p>
<p style="margin-top: 12px; text-indent: 4%; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">Available-for-sale securities are recorded at fair value and classified as short-term investments on the Balance Sheets. Our available-for-sale securities as of December 31, 2010 and 2009 consisted of U.S. Treasury securities with a fair value of $<font class="_mt">502</font> million and $<font class="_mt">300</font> million, and corporate debt securities of $<font class="_mt">14</font> million and $<font class="_mt">46</font> million. The cost basis of these securities was not materially different from their respective fair value in either year. Substantially all of our available-for-sale securities are contractually scheduled to mature in 2011. As of December 31, 2010 and 2009, the fair value of our trading securities totaled $<font class="_mt">843</font> million and $<font class="_mt"&
gt;757</font> million and was included in other assets on the Balance Sheets. Our trading securities are held in a Rabbi Trust, which includes investments to fund certain of our nonqualified deferred compensation plans. </font></p>
<p style="margin-top: 12px; text-indent: 4%; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">Net gains (losses) on marketable securities in 2010, 2009, and 2008 were $<font class="_mt">56</font> million, $<font class="_mt">110</font> million, and $<font class="_mt">(158)</font> million and were included in other non-operating income (expense), net on the Statements of Earnings. Included in these amounts are net unrealized gains (losses) on trading securities of $<font class="_mt">24</font> million in 2010, $<font class="_mt">115</font> million in 2009, and $<font class="_mt">(98)</font> million in 2008. </font></p></div> </div>Investments in marketable securities – Investments in marketable securities consist of debt and equity securities and are classified as eitherfalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDescribes an entity's accounting policies for investments in financial assets, including marketable securities (debt and equity securities with readily determinable fair values), investments accounted for under the equity method and cost method, securities borrowed and loaned, and repurchase and resale agreements. For marketable securities, the description may include the entity's accounting treatment for transfers between investment categories and how the fair values for such securities are determined. Also, for all investments, an entity may describe its policy for assessing, recognizing
and measuring impairment of the investment.Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 115
-Paragraph 7-16
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 2, 12
-Article 5
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 5
-Section M
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS115-1/124-1
-Paragraph 7-18
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 10, 11
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<p style="margin-top: 12px; text-indent: 4%; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>Equity method investments</b> – Investments where we have the ability to exercise significant influence over the investee are accounted for under the equity method of accounting and are included in other assets on the Balance Sheets. Significant influence typically exists if we have a <font class="_mt">20</font>% to <font class="_mt">50</font>% ownership interest in the investee. Under this method of accounting, our share of the net earnings or losses of the investee is included in operating profit in other income, net since the activities of the investee are closely aligned with the operations of the business segment holding the investment. We evaluate our equity method investments for impairment whenever events or changes in circumstances indicate that the carrying amounts of such investments may not be recoverable. I
f a decline in the value of an equity method investment is determined to be other than temporary, a loss is recorded in earnings in the current period. As of December 31, 2010 and 2009, our equity method investments totaled $<font class="_mt">671</font> million and $<font class="_mt">524</font> million and were included in other assets on the Balance Sheets. Our equity in net earnings related to these investments was $<font class="_mt">312</font> million in 2010, $<font class="_mt">278</font> million in 2009, and $<font class="_mt">288</font> million in 2008. </font></p></div> </div>Equity method investments – Investments where we have the ability to exercise significant influence over the investee are accounted for under the equityfalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringEquity method investments, policy [Text Block]No authoritative reference available.falsefalse18false0us-gaap_DerivativesPolicyTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1falsefalsefalse00<div> <div class="MetaData">
<p style="margin-top: 12px; text-indent: 4%; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>Derivative financial instruments</b> – We use derivative financial instruments to manage our exposure to fluctuations in foreign currency exchange rates. Foreign currency exchange contracts are entered into to manage the foreign currency exchange rate risk of forecasted foreign currency denominated cash receipts and cash payments. The majority of our foreign currency exchange contracts are designated as cash flow hedges. We also may use derivative financial instruments to manage our exposure to changes in interest rates. Our financial instruments that are subject to interest rate risk principally include fixed rate long-term debt. We do not hold or issue derivative financial instruments for trading or speculative purposes. </font></p>
<p style="margin-top: 12px; text-indent: 4%; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">We record derivatives at their fair value. The classification of gains and losses resulting from changes in the fair values of derivatives is dependent on our intended use of the derivative and its resulting designation. Adjustments to reflect changes in fair values of derivatives attributable to the effective portion of hedges that we consider highly effective hedges are either reflected in earnings and largely offset by corresponding adjustments to the hedged items, or reflected net of income taxes in accumulated other comprehensive loss until the hedged transaction is recognized in earnings. Changes in the fair value of the derivatives that are attributable to the ineffective portion of the hedges, or of derivatives that are not considered to be highly effective hedges, if any, are immediately recognized in earnings. The aggregate notional amount of the outstanding
foreign currency exchange contracts at December 31, 2010 and 2009 was $<font class="_mt">2.2</font> billion and $<font class="_mt">1.9</font> billion. There were no interest rate derivatives outstanding at December 31, 2010 and 2009. The effect of our derivative instruments on our Statements of Earnings for the years ended December 31, 2010, 2009, and 2008, and on our Balance Sheets as of December 31, 2010 and 2009 was not material. See Note 15 for further discussion on the fair value measurements related to our derivative instruments. </font></p></div> </div>Derivative financial instruments – We use derivative financial instruments to manage our exposure to fluctuations in foreign currency exchange rates.falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDescribes an entity's accounting policies for its derivative instruments and hedging activities. Disclosure may include: (1) Each method used to account for derivative financial instruments and derivative commodity instruments ("derivatives"); (2) the types of derivatives accounted for under each method; (3) the criteria required to be met for each accounting method used, including a discussion of the criteria required to be met for hedge or deferral accounting and accrual or settlement accounting (for example: whether and how risk reduction, correlation, designation, and effectiveness tests are applied); (4) the accounting method used if the criteria specified for hedge accounting are not met; (5) the method
used to account for termination of derivatives designated as hedges or derivatives used to affect directly or indirectly the terms, fair values, or cash flows of a designated item; (6) the method used to account for derivatives when the designated item matures, is sold, is extinguished, or is terminated. In addition, the method used to account for derivatives designated to an anticipated transaction, when the anticipated transaction is no longer likely to occur; and (7) where and when derivatives, and their related gains (losses) are reported in the statement of financial position, cash flows, and results of operations and (8) an accounting policy decision to offset fair value amounts with counterparties. An entity should also consider describing its embedded derivatives, and the method(s) used to determine the fair values of derivatives and any significant assumptions used in such valuations.Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 44
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph n
-Article 4
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 39
-Paragraph 10
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<p style="margin-top: 12px; text-indent: 4%; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>Stock-based compensation</b> – We recognize compensation cost related to all share-based payments (stock options and restricted stock units) based on their estimated fair value at the date of grant. </font></p></div> </div>Stock-based compensation – We recognize compensation cost related to all share-based payments (stock options and restricted stock units) based on theirfalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringStock-based compensation policyNo authoritative reference available.falsefalse20false0us-gaap_IncomeTaxPolicyTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalse<
IsReverseSign>falseverboselabel1falsefalsefalse00<div> <div class="MetaData">
<p style="margin-top: 12px; text-indent: 4%; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>Income taxes</b> – We periodically assess our tax filing exposures related to periods that are open to examination. Based on the latest available information, we evaluate tax positions to determine whether the position will more likely than not be sustained upon examination by the Internal Revenue Service (IRS). If we determine that the tax position is more likely than not to be sustained, we record the largest amount of benefit that is more likely than not to be realized when the tax position is settled. If we cannot reach that determination, no benefit is recorded. We record interest and penalties related to income taxes as a component of income tax expense in our consolidated financial statements. </font></p></div> </div>Income taxes – We periodically assess our tax f
iling exposures related to periods that are open to examination. Based on the latest availablefalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDescribes an entity's accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial stateme
nts.Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 4
-Paragraph 11
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 48
-Paragraph 20
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 6-34, 43, 47, 49
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<p style="margin-top: 12px; text-indent: 4%; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>Comprehensive income (loss)</b> – Comprehensive income (loss) and its components are presented on the Statements of Stockholders' Equity. </font></p>
<p style="margin-top: 12px; text-indent: 4%; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">Accumulated other comprehensive loss consisted of the following: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr><td width="82%"> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="5%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"><i> (In millions)</i></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center"><font style="font-family: Times New Roman;" class="_mt" size="2"><b><i>2010</i></b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center"><font style="font-family: Times New Roman;" class="_mt" size="2"><i>2009</i></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td></tr>
<tr><td height="8"> </td>
<td height="8" colspan="4"> </td>
<td height="8" colspan="4"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="margin-left: 1em;"><font style="font-family: Times New Roman;" class="_mt" size="2">Postretirement benefit plan adjustments</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>$</b></font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>(8,994</b></font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2">$</font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">(8,564</font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2">) </font></td></tr>
<tr><td valign="top">
<p style="margin-left: 1em;"><font style="font-family: Times New Roman;" class="_mt" size="2">Foreign currency translation adjustments</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"><b> </b></font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>(17</b></font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>) </b></font></td>
<td valign="bottom"><font class="_mt" size="1"> </font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">(26</font></td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2">) </font></td></tr>
<tr bgcolor="#cceeff"><td style="border-bottom: #000000 1px solid;" valign="top">
<p style="margin-left: 1em;"><font style="font-family: Times New Roman;" class="_mt" size="2">Other, net</font></p></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>1</b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"><b> </b></font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">(5</font></td>
<td style="border-bottom: #000000 1px solid;" valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2">) </font></td></tr>
<tr><td style="border-bottom: #000000 2px solid;" valign="top">
<p style="margin-left: 2em;"><font style="font-family: Times New Roman;" class="_mt" size="2">Accumulated other comprehensive loss</font></p></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>$</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>(9,010</b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>) </b></font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font class="_mt" size="1"> </font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2">$</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">(8,595</font></td>
<td style="border-bottom: #000000 2px solid;" valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2">) </font></td></tr></table></div> </div>Comprehensive income (loss) – Comprehensive income (loss) and its components are presented on the Statements of Stockholders' Equity.
Accumulated otherfalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringThis label may include the following: 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. Components of comprehensive income include: (1) foreign currency translation adjustments; (2) gains and losses on foreign currency transactions that are designated as, and
are effective as, economic hedges of a net investment in a foreign entity; (3) gains and losses on intercompany foreign currency transactions that are of a long-term-investment nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; (4) change in the market value of a futures contract that qualifies as a hedge of an asset reported at fair value; (5) unrealized holding gains and losses on available-for-sale securities and that resulting from transfers of debt securities from the held-to-maturity category to the available-for-sale category; (6) a net loss recognized as an additional pension liability not yet recognized as net periodic pension cost; and (7) the net gain or loss and net prior service cost or credit for pension plans and other postretirement benefit plans.Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 14-26
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<p style="margin-top: 12px; text-indent: 4%; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>Recent accounting pronouncements –</b> In October 2009, the Financial Accounting Standards Board (FASB) issued an accounting standard which revised its accounting guidance related to revenue arrangements with multiple deliverables. The standard relates to the determination of when the individual deliverables included in a multiple-element arrangement may be treated as separate units of accounting and modifies the manner in which the transaction consideration is allocated across the individual deliverables, thereby affecting the timing of revenue recognition. Also, the standard expands the disclosure requirements for revenue arrangements with multiple deliverables. The standard will be effective for us beginning on January 1, 2011, and will apply prospectively to certain multiple-element arrangements with non-U.S. Government c
ustomers entered into or materially modified after the adoption date. We do not expect the adoption of this accounting standard will have a material effect on our financial results. </font></p></div> </div>Recent accounting pronouncements – In October 2009, the Financial Accounting Standards Board (FASB) issued an accounting standard which revised itsfalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringRecent accounting pronouncements , policy [Text Block]No authoritative
reference available.falsefalse121Significant Accounting Policies (Policy)UnKnownUnKnownUnKnownUnKnownfalsetrue
