Lockheed Martin Reports Fourth Quarter and Full Year 2022 Financial Results

Cash from operations was $1.9 billion in the fourth quarter of 2022, compared to $4.3 billion in the fourth quarter of 2021. Excluded items are included in the reconciling item "Unallocated items" between operating profit from our business segments and our consolidated operating profit. The rate for the year ended Dec. 31, 2022 was lower than the rate for the year ended Dec. 31, 2021 primarily due to increased research and development tax credits. Business segment operating profitBusiness segment operating profit represents operating profit from the company's business segments before unallocated income and expense. The table below reconciles the non-GAAP measure business segment operating profit with the most directly comparable GAAP financial measure, consolidated operating profit.