Lockheed Martin Corporation
Lockheed Martin Transfers $900M in Pension Obligations to Insurers
Summary
On December 16, 2025, Lockheed Martin Corporation executed the conversion of group annuity contracts, transferring approximately $900 million of gross pension obligations from its defined benefit pension plans to insurance companies. This strategic move relieves Lockheed Martin of future funding obligations for these plans and is expected to result in a non-cash, non-operating pretax settlement charge of about $480 million in the fourth quarter of 2025.
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About Lockheed Martin Corporation
Lockheed Martin Corporation is a prominent player in the aerospace, defense, and security sectors, globally recognized for its advanced technology and innovation. Primarily engaged in the research, design, development, manufacture, and integration of advanced technology systems, Lockheed Martin plays a crucial role in supporting national and international security. The company's extensive portfolio includes aeronautics, rotary and mission systems, space systems, and missiles and fire control. Its aeronautics division is renowned for producing fighter jets like the F-35 Lightning II and the F-22 Raptor, while its space segment focuses on satellite systems and space exploration initiatives. Lockheed Martin serves a diverse clientele, including the U.S. Department of Defense, allied nations, civil markets, and commercial clients, leveraging its vast technological capabilities to enhance security and defense infrastructures. With a significant presence across the globe, Lockheed Martin Corporation not only fosters innovation in defense but also impacts critical areas such as cybersecurity, energy, and logistics, solidifying its integral role in the defense industry.
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