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Lockheed Martin Reports Fourth Quarter and Full Year 2021 Financial Results
LMT | January 25, 2022
BETHESDA, Md., Jan. 25, 2022 /PRNewswire/ -- Lockheed Martin Corporation [NYSE: LMT] today reported fourth quarter 2021 net sales of $17.7 billion, compared to $17.0 billion in the fourth quarter of 2020. Net earnings from continuing operations in the fourth quarter of 2021 were $2.0 billion, or $7.47 per share, compared to $1.8 billion, or $6.38 per share, in the fourth quarter of 2020. Cash from operations was $4.3 billion in the fourth quarter of 2021, compared to $1.8 billion in the fourth quarter of 2020. Cash from operations in the fourth quarter of 2020 was after $1.0 billion of discretionary pension contributions.
"We closed the year on a strong note with solid growth in fourth quarter sales, segment operating profit, and earnings per share, while cash exceeded our projections as we delivered on our customer commitments and drove strong execution," said Lockheed Martin Chairman, President and CEO James Taiclet. "We delivered significant value back to shareholders in 2021, including $7 billion in dividends and share repurchases, and our team continued to provide world-class support to our customers despite the ongoing challenges of the global pandemic. Through our strong balance sheet, we continue to invest in the many emerging growth opportunities ahead – from new aircraft competitions around the world, to our classified portfolio, to solid demand for our signature programs, to emerging technologies like hypersonics. Looking ahead to 2022, we will remain fully dedicated to service to our customers and dynamic and disciplined capital allocation for the benefit of our shareholders."
Net earnings for the quarter ended Dec. 31, 2021, included net gains of $85 million ($64 million, or $0.23 per share, after-tax) due to increases in the fair value of investments held in the Lockheed Martin Ventures Fund. Net earnings for the year ended Dec. 31, 2021, included a noncash pension settlement charge of $1.7 billion ($1.3 billion, or $4.72 per share, after-tax) associated with the $4.9 billion gross pension liability transfer completed in the third quarter; net gains of $265 million ($199 million, or $0.72 per share, after-tax) due to increases in the fair value of investments held in the Lockheed Martin Ventures Fund; and severance and restructuring charges of $36 million ($28 million, or $0.10 per share, after-tax) announced in the first quarter. Net earnings for the year ended Dec. 31, 2020, included a non-cash impairment charge of $128 million ($96 million, or $0.34 per share, after tax) for an investment in a joint venture; and severance charges of $27 million ($21 million, or $0.08 per share, after-tax).
Update on Proposed Aerojet Rocketdyne Acquisition
Earlier this month, Lockheed Martin and Aerojet Rocketdyne agreed with the Federal Trade Commission (FTC) that the parties would not close the transaction before Jan. 27, 2022, to enable the parties to discuss the scope and nature of the merchant supply and firewall commitments previously offered by Lockheed Martin. Lockheed Martin has been advised by the FTC that its concerns regarding the transaction cannot be addressed adequately by the terms of a consent order. Lockheed Martin believes it is highly likely that the FTC will vote to sue to block the transaction and expects they will make a decision before Jan. 27, 2022.
If the FTC sues to block the transaction, Lockheed Martin could elect to defend the lawsuit or terminate the merger agreement. Additional information concerning the transaction can be found in Lockheed Martin's 2021 Form 10-K that has been filed with the Securities and Exchange Commission.
Lockheed Martin continues to believe in the benefits of the transaction for the United States and its allies, the industry, and all of the company's stakeholders.
Summary Financial Results
The following table presents the company's summary financial results.
Quarters Ended Dec. 31,
Years Ended Dec. 31,
Business segment operating profit1
Unallocated items
FAS/CAS operating adjustment
Severance and restructuring charges2
Other, net3
Total unallocated items
Consolidated operating profit
Net earnings (loss) from
Continuing operations2,3,4
Discontinued operations5
Diluted earnings (loss) per share from
Diluted earnings per share
Cash from operations6
Business segment operating profit is a non-GAAP measure. See the "Use of Non-GAAP Financial Measures" section of this news release for more information.
Severance and restructuring charges for the year ended Dec. 31, 2021 include charges of $36 million ($28 million, or $0.10 per share, after-tax) for previously announced actions at the company's Rotary and Mission Systems business segment recognized in the first quarter of 2021. Severance and restructuring charges for the quarter and year ended Dec. 31, 2020 include charges of $27 million ($21 million, or $0.08 per share, after-tax) for previously announced actions related to corporate functions.
Other, net for the year ended Dec. 31, 2020 includes a noncash impairment charge of $128 million ($96 million, or $0.34 per share, after-tax) for the investment in the international equity method investee, Advanced Military Maintenance, Repair and Overhaul Center (AMMROC) recognized in the second quarter of 2020.
Net earnings from continuing operations for the quarter and year ended Dec. 31, 2021 include net gains of $85 million ($64 million, or $0.23 per share, after-tax) and $265 million ($199 million, or $0.72 per share, after-tax) due to increases in the fair value of investments held in the Lockheed Martin Ventures Fund. Net earnings from continuing operations for the year ended Dec. 31, 2021 also include a previously announced noncash, non-operating pension settlement charge of $1.7 billion ($1.3 billion, or $4.72 per share, after-tax) related to the purchase of group annuity contracts to transfer $4.9 billion of gross pension obligations to an insurance company in the third quarter of 2021.
Net earnings from discontinued operations for the year ended Dec. 31, 2020 include a noncash charge in the third quarter of 2020 for $55 million ($0.20 per share) resulting from the resolution of certain tax matters related to the former Information Systems & Global Solutions business divested in 2016.
Cash from operations for the year ended Dec. 31, 2021 is after employer payroll tax payments of $942 million, compared to $222 million for the year ended Dec. 31, 2020. In 2020, the company deferred the payment of $460 million of the employer portion of payroll taxes pursuant to the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), of which $230 million was paid in the fourth quarter of 2021 with the remaining $230 million to be paid in the fourth quarter of 2022. In addition, cash from operations for the quarter and year ended Dec. 31, 2020 is net of discretionary pension contributions of $1.0 billion.
2022 Financial Outlook
The following table and other sections of this news release contain forward-looking statements, which are based on the company's current expectations. Actual results may differ materially from those projected. It is the company's practice not to incorporate adjustments into its financial outlook for proposed acquisitions, divestitures, ventures, pension risk transfer transactions, changes in law, or new accounting standards until such items have been consummated, enacted or adopted. For additional factors that may impact the company's actual results, refer to the "Forward-Looking Statements" section in this news release.
Current Outlook1
~$66,000
~$7,175
Net FAS/CAS pension adjustment3,4
Cash from operations
≥$7,900
R&D capitalization assumption5
~$500
Cash from operations (excluding R&D)2
~$(1,900)
Free cash flow2
The company's current 2022 financial outlook reflects known impacts from the COVID-19 pandemic based on the company's understanding at the time of this news release and its experience to date. However, the company cannot predict how the pandemic will evolve or what impact it will continue to have. Therefore, no additional impacts to the company's operations or its supply chain as a result of continued disruption from, or policies in response to, COVID-19 for periods subsequent to the time of this news release have been incorporated into the company's current 2022 financial outlook. The ultimate impacts of COVID-19 on the company's financial results for 2022 and beyond remain uncertain and there can be no assurance that the company's underlying assumptions are correct. Additionally, the current 2022 financial outlook does not include any future gains or losses related to changes in valuations of the company's investments held in the Lockheed Martin Ventures Fund as the company cannot predict changes in the valuation of its investments or market events. It also assumes continued accelerated payments to suppliers, with a focus on small and at-risk businesses. Further, the 2022 financial outlook does not incorporate the pending acquisition of Aerojet Rocketdyne Holdings, Inc. and related transaction costs.
Business segment operating profit, cash from operations (excluding R&D) and free cash flow are non-GAAP measures. See the "Use of Non-GAAP Financial Measures" section of this news release for more information.
The net FAS/CAS pension adjustment is presented as a single amount and includes total expected U.S. Government cost accounting standards (CAS) pension cost of approximately $1.8 billion and total expected financial accounting standards (FAS) pension income of approximately $460 million. CAS pension cost and the service cost component of FAS pension income are included in operating profit. The non-service cost components of FAS pension income are included in non-operating income (expense). For additional detail regarding the pension amounts reported in operating and non-operating results, refer to the supplemental table included at the end of this news release.
The net FAS/CAS pension adjustment was calculated using a 2.875% discount rate at Dec. 31, 2021, an approximate 10.5% return on plan assets in 2021, and an expected 6.5% long-term rate of return on plan assets in future years.
A provision of the Tax Cuts and Jobs Act of 2017 went into effect on Jan. 1, 2022 that requires companies to capitalize and amortize research and development costs over five years rather than deducting such costs in the year incurred for tax purposes. The company currently estimates that unless the provision is deferred, modified, or repealed, this change will result in an additional $500 million of tax payments in 2022, which has been reflected in the company's current 2022 financial outlook for cash from operations. This change is not expected to have a significant impact on the company's net earnings.
Cash Deployment Activities
The company's cash deployment activities in the quarter and year end Dec. 31, 2021, included the following:
accelerating $2.2 billion of payments to suppliers during the quarter ended Dec. 31, 2021, that were due in the first quarter of 2022, compared to accelerating $2.1 billion of payments to suppliers in the fourth quarter of 2020 that were due in the first quarter of 2021;
making no pension contributions during the quarter and year ended Dec. 31, 2021, compared to making discretionary pension contributions of $1.0 billion during the quarter and year ended Dec. 31, 2020;
making capital expenditures of $607 million and $1.5 billion during the quarter and year ended Dec. 31, 2021, compared to $722 million and $1.8 billion during the quarter and year ended Dec. 31, 2020;
paying cash dividends of $762 million and $2.9 billion during the quarter and year ended Dec. 31, 2021, compared to $728 million and $2.8 billion during the quarter and year ended Dec. 31, 2020;
paying $2.1 billion to repurchase 6.1 million shares (including 2.2 million shares received upon settlement of an accelerated share repurchase agreement (ASR) in January 2022) and $4.1 billion to repurchase 11.7 million shares (including the 2.2 million shares received upon settlement of an ASR in January 2022) during the quarter and year ended Dec. 31, 2021, compared to no shares repurchased and paying $1.1 billion to repurchase 3.0 million shares during the quarter and year ended Dec. 31, 2020;
making no repayments and a scheduled repayment of $500 million of long-term debt during the quarter and year ended Dec. 31, 2021, compared to making repayments of $500 million and $1.7 billion of long-term debt during the quarter and year ended Dec. 31, 2020; and
receiving no proceeds from the issuance of debt during the year ended Dec. 31, 2021, compared to receiving $1.1 billion of net proceeds from the issuance of debt during the year ended Dec. 31, 2020.
Segment Results
The company operates in four business segments organized based on the nature of products and services offered: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS) and Space. The following table presents summary operating results of the company's business segments and reconciles these amounts to the company's consolidated financial results.
Missiles and Fire Control
Rotary and Mission Systems
Total net sales
Total business segment operating profit
Severance and restructuring charges
Other, net
Total consolidated operating profit
Net sales and operating profit of the company's business segments exclude intersegment sales, cost of sales, and profit as these activities are eliminated in consolidation. Operating profit of the company's business segments includes the company's share of earnings or losses from equity method investees as the operating activities of the investees are closely aligned with the operations of its business segments.
Operating profit of the company's business segments also excludes the FAS/CAS pension operating adjustment described below, a portion of corporate costs not considered allowable or allocable to contracts with the U.S. Government under the applicable U.S. Government cost accounting standards (CAS) or federal acquisition regulations (FAR), and other items not considered part of management's evaluation of segment operating performance such as a portion of management and administration costs, legal fees and settlements, environmental costs, stock-based compensation expense, retiree benefits, significant severance actions, significant asset impairments, gains or losses from divestitures, and other miscellaneous corporate activities.
The company recovers CAS pension cost through the pricing of its products and services on U.S. Government contracts and, therefore, recognizes CAS pension cost in each of its business segments' net sales and cost of sales. The company's consolidated financial statements must present pension and other postretirement benefit plan income calculated in accordance with FAS requirements under U.S. generally accepted accounting principles. The operating portion of the net FAS/CAS pension adjustment represents the difference between the service cost component of FAS pension (expense) income and total CAS pension cost. The non-service FAS pension (expense) income component is included in other non-service FAS pension (expense) income in our consolidated statements of earnings. The net FAS/CAS pension adjustment increases or decreases CAS pension cost to equal total FAS pension income (both service and non-service).
Changes in net sales and operating profit generally are expressed in terms of volume. Changes in volume refer to increases or decreases in sales or operating profit resulting from varying production activity levels, deliveries or service levels on individual contracts. Volume changes in segment operating profit are typically based on the current profit booking rate for a particular contract. In addition, comparability of the company's segment sales, operating profit and operating margin may be impacted favorably or unfavorably by changes in profit booking rates on the company's contracts for which it recognizes revenue over time using the percentage-of-completion cost-to-cost method to measure progress towards completion. Increases in profit booking rates, typically referred to as risk retirements, usually relate to revisions in the estimated total costs to fulfill the performance obligations that reflect improved conditions on a particular contract. Conversely, conditions on a particular contract may deteriorate, resulting in an increase in the estimated total costs to fulfill the performance obligations and a reduction in the profit booking rate. Increases or decreases in profit booking rates are recognized in the current period and reflect the inception-to-date effect of such changes.
Segment operating profit and margin may also be impacted favorably or unfavorably by other items, which may or may not impact sales. Favorable items may include the positive resolution of contractual matters, cost recoveries on severance and restructuring charges, insurance recoveries and gains on sales of assets. Unfavorable items may include the adverse resolution of contractual matters; restructuring charges, except for significant severance actions which are excluded from segment operating results; reserves for disputes; certain asset impairments; and losses on sales of certain assets.
The company's consolidated net adjustments not related to volume, including net profit booking rate adjustments, represented approximately 29% and 28% of total segment operating profit in the quarter and year ended Dec. 31, 2021, as compared to 25% and 26% in the quarter and year ended Dec. 31, 2020.
Aeronautics' net sales during the fourth quarter of 2021 increased $413 million, or 6%, compared to the same period in 2020. The increase was primarily attributable to higher net sales of approximately $270 million for the F-35 program due to higher volume on production contracts that was partially offset by lower volume on development contracts; and about $110 million for classified contracts due to higher volume and risk retirements.
Aeronautics' operating profit during the fourth quarter of 2021 increased $93 million, or 13%, compared to the same period in 2020. The increase was primarily attributable to higher operating profit of approximately $55 million for classified contracts due to higher risk retirements; and about $35 million for the C-130 program due to higher risk retirements on sustainment activities. Operating profit for the F-35 program was comparable as higher volume on production contracts was offset by lower risk retirements on sustainment contracts. Adjustments not related to volume, including net profit booking rate adjustments, were $80 million higher in the fourth quarter of 2021 compared to the same period in 2020.
Aeronautics' net sales in 2021 increased $482 million, or 2%, compared to 2020. The increase was primarily attributable to higher net sales of approximately $290 million on classified contracts due to higher volume; about $180 million for the F-16 program due to higher volume on production contracts that was partially offset by lower sustainment volume; approximately $75 million for the F-35 program primarily due to higher volume on production and sustainment contracts that was partially offset by lower volume on development contracts; and about $30 million for the C-130 program primarily due to higher volume on production contracts and higher risk retirements on sustainment activities. These increases were partially offset by a decrease of approximately $170 million for lower sustainment volume for the F-22 program.
Aeronautics' operating profit in 2021 decreased $44 million, or 2%, compared to 2020. The decrease was primarily attributable to lower operating profit of approximately $120 million for classified contracts primarily due to a $225 million loss recognized in the second quarter of 2021 for performance issues experienced on a classified program that was partially offset by higher risk retirements on other classified programs recognized in the second half of 2021; and about $70 million for the F-35 program due to lower risk retirements and volume on development contracts and lower risk retirements on production contracts that were partially offset by higher risk retirements and volume on sustainment contracts. These decreases were partially offset by an increase of approximately $90 million for the C-130 program due to higher risk retirements on sustainment contracts; and about $50 million for the F-16 program due to higher risk retirements on sustainment contracts and higher production volume. Adjustments not related to volume, including net profit booking rate adjustments, were $60 million lower in 2021 compared to 2020.
MFC's net sales during the fourth quarter of 2021 increased $353 million, or 12%, compared to the same period in 2020. The increase was primarily attributable to higher net sales of approximately $200 million for integrated air and missile defense programs due to higher volume (primarily PAC-3); and about $190 million for tactical and strike missile programs due to higher volume (primarily Hellfire, Long Range Anti-Ship Missile (LRASM) and Joint Air-to-Surface Standoff Missile (JASSM)). These increases were partially offset by a decrease of about $40 million for sensors and global sustainment programs due to lower volume (primarily Special Operations Forces Global Logistics Support Services (SOF GLSS)).
MFC's operating profit during the fourth quarter of 2021 increased $64 million, or 17%, compared to the same period in 2020. The increase was primarily attributable to higher operating profit of approximately $40 million for tactical and strike missile programs due to higher volume (primarily Hellfire, LRASM and JASSM) and higher risk retirements (primarily Guided Multiple Launch Rocket Systems (GMLRS)); and about $25 million for integrated air and missile defense programs due to higher volume (primarily PAC-3). Adjustments not related to volume, including net profit booking rate adjustments, were comparable in the fourth quarter of 2021 to the same period in 2020.
MFC's net sales in 2021 increased $436 million, or 4%, compared to 2020. The increase was primarily attributable to higher net sales of approximately $340 million for integrated air and missile defense programs due to higher volume and risk retirements (primarily PAC-3); and about $215 million for tactical and strike missile programs due to higher volume (primarily LRASM and JASSM). These increases were partially offset by a decrease of approximately $90 million for sensors and global sustainment programs due to lower volume (primarily Sniper Advanced Targeting Pod (SNIPER®) and Apache) that was partially offset by close out activities related to the Warrior Capability Sustainment Program (Warrior) that was terminated by the customer in March 2021.
MFC's operating profit in 2021 increased $103 million, or 7%, compared to 2020. The increase was primarily attributable to higher operating profit of approximately $65 million for integrated air and missile defense programs due to higher risk retirements and volume (primarily PAC-3); about $45 million for tactical and strike missile programs due to higher volume (primarily LRASM and JASSM) and higher risk retirements (primarily GMLRS); and approximately $20 million for sensors and global sustainment programs due to the reversal of a portion of previously recorded losses on the Warrior program in the second and third quarters of 2021 that will not recur as a result of the program being terminated, which was partially offset by lower volume (primarily SNIPER and Apache). These increases were partially offset by charges of approximately $25 million due to performance issues on an energy program during the third quarter of 2021. Adjustments not related to volume, including net profit booking rate adjustments, were $85 million higher in 2021 compared to 2020.
RMS' net sales during the fourth quarter of 2021 increased $248 million, or 6%, compared to the same period in 2020. The increase was primarily attributable to higher net sales of approximately $115 million for various C6ISR (command, control, communications, computers, cyber, combat systems, intelligence, surveillance, and reconnaissance) programs due to higher volume; about $70 million for training and logistics solutions (TLS) programs due to higher volume; and approximately $45 million for integrated warfare systems and sensors (IWSS) programs due to higher volume on Canadian Surface Combatant (CSC) and Aegis programs.
RMS' operating profit during the fourth quarter of 2021 increased $42 million, or 10%, compared to the same period in 2020. The increase was primarily attributable to higher operating profit of approximately $30 million for Sikorsky helicopter programs due to higher risk retirements (primarily Combat Rescue Helicopter (CRH) and VH-92A); and about $20 million for C6ISR programs due to higher risk retirements. Adjustments not related to volume, including net profit booking rate adjustments, were $10 million higher in the fourth quarter of 2021 compared to the same period in 2020.
RMS' net sales in 2021 increased $794 million, or 5%, compared to 2020. The increase was primarily attributable to higher net sales of $540 million for Sikorsky helicopter programs due to higher production volume (Black Hawk, CH-53K and CRH); and about $340 million for TLS programs primarily due to the delivery of an international pilot training system in the first quarter of 2021. These increases were partially offset by lower net sales of about $65 million for IWSS programs due to lower volume on the LCS and TPQ-53 programs that were partially offset by higher volume on the CSC and Aegis programs.
RMS' operating profit in 2021 increased $183 million, or 11%, compared to 2020. The increase was primarily attributable to higher operating profit of approximately $140 million for Sikorsky helicopter programs due to higher risk retirements (Black Hawk and CH-53K), higher production volume (Black Hawk and CRH), and lower charges on the CRH program in the first half of 2021; and about $10 million for TLS programs due to the delivery of an international pilot training system in the first quarter of 2021. Operating profit for IWSS programs was comparable as lower risk retirements on the LCS program and lower volume on the TPQ-53 program were offset by higher volume on the CSC program and lower charges on a ground-based radar program. Adjustments not related to volume, including net profit booking rate adjustments, were $80 million higher in 2021 compared 2020.
Space's net sales during the fourth quarter of 2021 decreased $317 million, or 10%, compared to the same period in 2020. The decrease was primarily attributable to lower net sales of approximately $385 million due to the June 30, 2021, renationalization of the Atomic Weapons Establishment (AWE) program after which date, the ongoing operations are no longer included in the company's financial results; and about $80 million for commercial civil space programs due to lower volume (primarily Orion). These decreases were partially offset by higher net sales of about $165 million for strategic and missile defense programs due to higher volume (primarily Next Generation Interceptor (NGI), Fleet Ballistic Missile (FBM) and hypersonic development).
Space's operating profit during the fourth quarter of 2021 decreased $60 million, or 16%, compared to the same period in 2020. The decrease was primarily attributable to approximately $60 million of lower equity earnings from the company's investment in United Launch Alliance (ULA) due to launch vehicle mix; and about $25 million for commercial civil space programs due to lower risk retirements and volume (primarily Orion). These decreases were partially offset by an increase of approximately $10 million for strategic and missile defense programs due to higher risk retirements (primarily FBM) that were partially offset by lower risk retirements (primarily hypersonic development). There was not a significant decrease in operating profit for the AWE program as its operating profit in the fourth quarter of 2020 was mostly offset by accelerated and incremental amortization expense for intangible assets as a result of the renationalization. Adjustments not related to volume, including net profit booking rate adjustments, were $10 million higher in the fourth quarter of 2021 compared to the same period in 2020.
Space's net sales in 2021 decreased $66 million, or 1%, compared to 2020. The decrease was primarily attributable to lower net sales of approximately $535 million due to the renationalization of the AWE program; and about $105 million for commercial civil space programs due to lower volume (primarily Orion). These decreases were partially offset by higher net sales of approximately $405 million for strategic and missile defense programs due to higher volume (primarily hypersonic development and NGI programs); and about $140 million for national security space programs due to higher volume and risk retirements (primarily Next Gen OPIR and SBIRS).
Space's operating profit in 2021 decreased $15 million, or 1%, compared to 2020. The decrease was primarily attributable to approximately $70 million of lower equity earnings from the company's investment in ULA due to lower launch volume and launch vehicle mix; and about $20 million due to the renationalization of the AWE program. These decreases were partially offset by an increase of about $35 million for strategic and missile defense programs due to higher volume (primarily hypersonic development programs); and approximately $25 million for national security space programs due to higher risk retirements (primarily SBIRS and classified programs) and higher volume (primarily Next Gen OPIR) that was partially offset by charges of about $80 million on a commercial ground solutions program. Operating profit was comparable for commercial civil space programs as higher risk retirements (primarily space transportation programs) were offset by lower volume (primarily Orion). Adjustments not related to volume, including net profit booking rate adjustments, were $100 million higher in 2021 compared to 2020.
Total equity earnings (primarily ULA) represented approximately $30 million, or 9%, and approximately $65 million, or 6%, of Space's operating profit during the quarter and year ended Dec. 31, 2021, compared to approximately $90 million, or 24%, and approximately $135 million, or 12%, in the quarter and year ended Dec. 31, 2020.
The company's effective income tax rate was 17.7% and 16.4% in the quarter and year ended Dec. 31, 2021, compared to 18.1% and 16.4% in the quarter and year ended Dec. 31, 2020. The rates for the year ended Dec. 31, 2021, and Dec. 31, 2020, benefited from tax deductions for foreign derived intangible income, the research and development tax credit, dividends paid to the company's defined contribution plans with an employee stock ownership plan feature and tax deductions for employee equity awards. The rate for the quarter ended Dec. 31, 2021 was lower than the rate for the quarter ended Dec. 31, 2020 primarily due to increased research and development tax credits partially offset by a reduction in the tax deduction for foreign derived intangible income.
Use of Non-GAAP Financial Measures
This news release contains the following non-generally accepted accounting principles (non-GAAP) financial measures (as defined by U.S. Securities and Exchange Commission (SEC) Regulation G). While management believes that these non-GAAP financial measures may be useful in evaluating the financial performance of the company, this information should be considered supplemental and is not a substitute for financial information prepared in accordance with GAAP. In addition, the company's definitions for non-GAAP financial measures may differ from similarly titled measures used by other companies or analysts.
Business segment operating profit
Business segment operating profit represents operating profit from the company's business segments before unallocated income and expense. This measure is used by the company's senior management in evaluating the performance of its business segments and is a performance goal in the company's annual incentive plan. Business segment operating margin is calculated by dividing business segment operating profit by sales. The table below reconciles the non-GAAP measure business segment operating profit with the most directly comparable GAAP financial measure, consolidated operating profit.
Business segment operating profit (non-GAAP)
FAS/CAS operating adjustment2
~(350)
Consolidated operating profit (GAAP)
The company's current 2022 financial outlook reflects known impacts from the COVID-19 pandemic based on the company's understanding at the time of this news release and its experience to date. However, the company cannot predict how the pandemic will evolve or what impact it will continue to have. Therefore, no additional impacts to the Company's operations or its supply chain as a result of continued disruption from, or policies in response to, COVID-19 for periods subsequent to the time of this news release have been incorporated into the company's current 2022 financial outlook. The ultimate impacts of COVID-19 on the company's financial outlook for 2022 and beyond remain uncertain and there can be no assurance that the company's underlying assumptions are correct.
Reflects the amount by which expected total CAS pension cost of $1.8 billion, exceeds the expected FAS pension service cost of $95 million. Excludes $555 million of expected non-service FAS pension income. Refer to the supplemental table "Other Supplemental Information" included in this news release for a detail of the FAS/CAS operating adjustment.
Net FAS/CAS pension adjustment – adjusted
Net FAS/CAS pension adjustment has been adjusted for the third quarter 2021 noncash, non-operating pension settlement charge of $1.7 billion. Management believes that the exclusion of the pension settlement charge related to the accelerated recognition of actuarial losses previously included in accumulated other comprehensive loss for certain pension plans as a result of the purchase of group annuity contracts from an insurance company, is useful to understanding the company's underlying business performance and comparing performance from period to period.
Free Cash Flow is cash from operations less capital expenditures. The company uses free cash flow to evaluate its business performance and overall liquidity. The company believes free cash flow is a useful measure for investors because it represents the amount of cash generated from operations after reinvesting in the business and that may be available to return to stockholders and creditors (through dividends, stock repurchase and debt repayments) or available to fund acquisitions. The entire free cash flow amount is not necessarily available for discretionary expenditures.
Cash from operations (excluding R&D)
Cash from operations (excluding R&D) is cash from operations excluding the impact of a provision of the Tax Cuts and Jobs Act of 2017 related to research and development costs that went into effect on Jan. 1, 2022. The provision requires that companies capitalize and amortize research and development costs over five years for tax purposes rather than deducting such costs in the year incurred. The company believes this adjusted measure of cash from operations is useful to investors because it allows for a comparison against prior periods of the company's ability to generate cash controlling for the change in tax law, and because the impact of the new tax law will lessen over the course of the five-year amortization period and become immaterial in the sixth year.
Lockheed Martin Corporation will webcast live the earnings results conference call (listen-only mode) on Tuesday, Jan. 25, 2022, at 11 a.m. EST. The live webcast and relevant financial charts will be available for download on the Lockheed Martin Investor Relations website at www.lockheedmartin.com/investor.
For additional information, visit the company's website: www.lockheedmartin.com.
Headquartered in Bethesda, Maryland, Lockheed Martin Corporation is a global security and aerospace company that employs approximately 114,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.
This news release contains statements that, to the extent they are not recitations of historical fact, constitute forward-looking statements within the meaning of the federal securities laws, and are based on Lockheed Martin's current expectations and assumptions. The words "believe," "estimate," "anticipate," "project," "intend," "expect," "plan," "outlook," "scheduled," "forecast" and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks and uncertainties. Actual results may differ materially due to factors such as:
the impact of COVID-19 or future epidemics on the company's business, including potential supply chain disruptions, facility closures, work stoppages, program delays, payment policies and regulations, the company's ability to recover its costs under contracts and uncertainty regarding the impacts of potential vaccine mandates or other requirements;
budget uncertainty, the risk of future budget cuts, the debt ceiling and the potential for government shutdowns and changing funding and acquisition priorities;
the company's reliance on contracts with the U.S. Government, which are dependent on U.S. Government funding and can be terminated for convenience, and the company's ability to negotiate favorable contract terms;
risks related to the development, production, sustainment, performance, schedule, cost and requirements of complex and technologically advanced programs including the company's largest, the F-35 program;
planned production rates and orders for significant programs; compliance with stringent performance and reliability standards; materials availability;
performance and financial viability of key suppliers, teammates, joint ventures and partners, subcontractors and customers;
economic, industry, business and political conditions including their effects on governmental policy and government actions that disrupt the company's supply chain or prevent the sale or delivery of its products (such as delays in approvals for exports requiring Congressional notification);
trade policies or sanctions (including potential Chinese sanctions on the company or its suppliers, teammates or partners and U.S. Government sanctions on Turkey and its removal from the F-35 program);
the company's success expanding into and doing business in adjacent markets and internationally and the differing risks posed by international sales;
changes in foreign national priorities and foreign government budgets and planned orders;
the competitive environment for the company's products and services, including increased pricing pressures, aggressive pricing in the absence of cost realism evaluation criteria, competition from emerging competitors including startups and non-traditional defense contractors, and bid protests;
the timing and customer acceptance of product deliveries and performance milestones;
the company's ability to develop new technologies and products, including emerging digital and network technologies and capabilities;
the company's ability to attract and retain a highly skilled workforce; the impact of work stoppages or other labor disruptions;
cyber or other security threats or other disruptions faced by the company or its suppliers;
the company's ability to implement and continue, and the timing and impact of, capitalization changes such as share repurchases and dividend payments;
the company's ability to recover costs under U.S. Government contracts, our mix of fixed-price and cost-reimbursable contracts and the impacts of cost overruns and significant increases in inflation;
the accuracy of the company's estimates and projections;
the impact of pension risk transfers, including potential noncash settlement charges; timing and estimates regarding pension funding and movements in interest rates and other changes that may affect pension plan assumptions, stockholders' equity, the level of the FAS/CAS adjustment; actual returns on pension plan assets and the impact of pension related legislation;
the successful operation of joint ventures that the company does not control;
realizing the anticipated benefits of acquisitions or divestitures, investments, joint ventures, teaming arrangements or internal reorganizations, and market volatility in the fair value of investments in the company's Lockheed Martin Ventures Fund that are marked to market;
risks related to the company's proposed acquisition of Aerojet Rocketdyne, including the failure to obtain, delays in obtaining or adverse conditions contained in any required regulatory approvals, or any related litigation, and the company's ability to successfully and timely integrate the business and realize synergies and other expected benefits of the transaction;
the company's efforts to increase the efficiency of its operations and improve the affordability of its products and services;
the risk of an impairment of the company's assets, including the potential impairment of goodwill recorded as a result of the acquisition of the Sikorsky business;
the availability and adequacy of the company's insurance and indemnities;
the company's ability to benefit fully from or adequately protect its intellectual property rights;
procurement and other regulations and policies affecting the company's industry, export of its products, cost allowability or recovery, preferred contract type, and performance and progress payments policy, including a reversal or modification to the DoD's increase to the progress payment rate in response to COVID-19;
changes in accounting, U.S. or foreign tax, export or other laws, regulations, and policies and their interpretation or application; and
the outcome of legal proceedings, bid protests, environmental remediation efforts, audits, government investigations or government allegations that the company has failed to comply with law, other contingencies and U.S. Government identification of deficiencies in its business systems.
These are only some of the factors that may affect the forward-looking statements contained in this news release. For a discussion identifying additional important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, see the company's filings with the U.S. Securities and Exchange Commission including, but not limited to, "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" in the company's Annual Report on Form 10-K for the year ended Dec. 31, 2021. The company's filings may be accessed through the Investor Relations page of its website, www.lockheedmartin.com/investor, or through the website maintained by the SEC at www.sec.gov.
The company's actual financial results likely will be different from those projected due to the inherent nature of projections. Given these uncertainties, forward-looking statements should not be relied on in making investment decisions. The forward-looking statements contained in this news release speak only as of the date of its filing. Except where required by applicable law, the company expressly disclaims a duty to provide updates to forward-looking statements after the date of this news release to reflect subsequent events, changed circumstances, changes in expectations, or the estimates and assumptions associated with them. The forward-looking statements in this news release are intended to be subject to the safe harbor protection provided by the federal securities laws.
Consolidated Statements of Earnings
(unaudited; in millions, except per share data)
Cost of sales1
Other income (expense), net2
Non-service FAS pension (expense)
income3
Other non-operating income (expense), net4
Earnings from continuing operations before
Net earnings from continuing operations
Net loss from discontinued operations
Earnings (loss) per common share
Continuing operations
Basic earnings per common share
Diluted earnings per common share
Weighted average shares outstanding
Common shares reported in stockholders'
equity at end of period
During the quarter ended March 28, 2021, the company recognized severance and restructuring charges of $36 million ($28 million, or $0.10 per share, after-
tax) for previously announced actions at the company's Rotary and Mission Systems business segment. In the fourth quarter of 2020, the
company recognized severance charges of $27 million ($21 million, or $0.08 per share, after-tax) for previously announced actions related to
corporate functions.
During the quarter ended June 28, 2020, the company recognized a noncash impairment charge of $128 million ($96 million, or $0.34 per share, after-
tax) for the investment in the international equity method investee, Advanced Military Maintenance, Repair and Overhaul Center (AMMROC).
During the quarter ended Sept. 26, 2021, the company recognized a $1.7 billion ($1.3 billion, or $4.72 per share, after-tax) noncash, non-operating pension
settlement charge related to the purchase of group annuity contracts.
Other non-operating income (expense), net for the quarter and year ended Dec. 31, 2021 include net gains of $85 million ($64 million, or $0.23
per share, after-tax) and $265 million ($199 million, or $0.72 per share, after-tax) due to increases in the fair value of investments held in the
Lockheed Martin Ventures Fund.
Net earnings from discontinued operations for the year ended Dec. 31, 2020, include a noncash charge in third quarter of 2020 for $55 million
($0.20 per share) resulting from the resolution of certain tax matters related to the former Information Systems & Global Solutions business
divested in 2016.
Business Segment Summary Operating Results
(unaudited; in millions)
Total business segment operating
Total consolidated operating
Severance and restructuring charges for the year ended Dec. 31, 2021 include charges of $36 million ($28 million, or $0.10 per share, after-tax) for
previously announced actions at the company's Rotary and Mission Systems business segment recognized in the first quarter of 2021. Severance
and restructuring charges for the quarter and year ended Dec. 31, 2020 include charges of $27 million ($21 million, or $0.08 per share, after-tax) for
previously announced actions related to corporate functions recognized in the fourth quarter of 2020.
Other, net for the year ended Dec. 31, 2020 includes a noncash impairment charge of $128 million ($96 million, or $0.34 per share, after-tax) for the
investment in the international equity method investee, Advanced Military Maintenance, Repair and Overhaul Center (AMMROC) recognized in the
second quarter of 2020.
Selected Financial Data
Amortization of purchased intangibles
Total amortization of purchased
Total FAS income (expense) and CAS costs
FAS pension income (expense)
$ (1,398)
Less: CAS pension cost
Net FAS/CAS pension adjustment
Less: pension settlement charge
Net FAS/CAS pension adjustment - adjusted1,2
Service and non-service cost reconciliation
FAS pension service cost
$ (95)
$ (106)
FAS pension non-service income (expense)
Net FAS/CAS pension adjustment – adjusted is a non-GAAP measure. See the "Use of Non-GAAP Financial Measures" section of this news release for more information.
The non-service cost components in the table above relate only to the company's qualified defined benefit pension plans. The company recognized a noncash, non-operating settlement charge of $1,665 million in the third quarter of 2021 related to the accelerated recognition of actuarial losses previously included in accumulated other comprehensive loss for certain pension plans as a result of the purchase of group annuity contracts from an insurance company.
(unaudited, in millions, except par value)
Dec. 31,
Receivables, net
Contract assets
Property, plant and equipment, net
Other noncurrent assets
Liabilities and equity
Salaries, benefits and payroll taxes
Current maturities of long-term debt
Accrued pension liabilities
Other noncurrent liabilities
Common stock, $1 par value per share
Total stockholders' equity
Noncontrolling interests in subsidiary
Total liabilities and equity
Adjustments to reconcile net earnings to net cash provided by operating activities
Equity method investment impairment
Tax resolution related to former IS&GS business
Pension settlement charge
Changes in assets and liabilities
Postretirement benefit plans
Acquisitions of businesses
Net cash used for investing activities
Issuance of long-term debt, net of related costs
Repayments of long-term debt
Repurchases of common stock
Net cash used for financing activities
Consolidated Statement of Equity
Comm on
Stockholders'
Noncontrolling
in Subsidiary
Balance at Dec. 31, 2020
Other comprehensive income, net of tax1
Dividends declared2
Stock-based awards, ESOP activity and
Net decrease in noncontrolling interests
The change in other comprehensive loss, net of tax primarily relates to amounts recognized for the company's post-retirement benefit plans.
Represents dividends of $2.60 per share declared for each of the first, second and third quarters of 2021 and dividends of $2.80 per share declared for the fourth quarter of 2021.
Other Financial and Operating Information
(unaudited; in millions, except for aircraft deliveries and weeks)
Total backlog
Aircraft Deliveries
Government helicopter programs
Commercial helicopter programs
International military helicopter programs
Number of Weeks in Reporting Period1
Calendar quarters are typically comprised of 13 weeks. However, the company closes its books and records on the last Sunday of each month, except for the month of Dec., as its fiscal year ends on Dec. 31. As a result, the number of weeks in a reporting quarter may vary slightly during the year and for comparable prior year periods.
View original content to download multimedia:https://www.prnewswire.com/news-releases/lockheed-martin-reports-fourth-quarter-and-full-year-2021-financial-results-301467141.html
SOURCE Lockheed Martin
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For those of you that are considering sunglasses because of the style, you will certainly likewise need to look into the security aspect of the lens. When you think of it, if you go out into the sunlight without wearing sunglasses, years from now, your eyes will feel that damages. As we compose this post, we are mosting likely to tell you concerning the very best types of sunglasses regarding what you need to look for.
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That external finishing is clear and also will certainly be what is straining those UV rays. The color isn't the one that is straining those UV rays. Sure, the color will offer you some comfort, however without that UV layer, the darker shades are actually mosting likely to trick your eyes right into thinking they are safeguarded.
You require to make certain you get your sunglasses as well as use them whatsoever times. You should likewise get your youngsters a pair of sunglasses and also show them the habit of leaving them on. The glasses we utilize are great for both design as well as comfort. We actually do like these tones as they offer the best protection for us. They produce one hundred percent UV A, B, C security. Finest sunglasses are not hard to discover today, due to the fact that there are numerous types. You can find them both on the web and off the Web. The option is totally approximately you, however we wish you do your study beforehand.
When picking the best sunglasses, knowing your face shape as well as using that expertise will certainly make you look your ideal. There are seven various sorts of face forms: square, oval, oblong, round, diamond, heart, as well as triangular. Summaries of each face shape will certainly be provided below, yet one of the best ways is to merely make use of lipstick or a marker to outline your face form on the mirror. After that, pick which shape it most represents. When you know your face shape, discover it below and utilize the suggestions to select a pair that will certainly look good on you.
An individual with a square face has angular attributes and a square jaw. The length and also width of a square face is proportional. The best kinds of sunglasses for this face type are rounded or oblong frameworks, or even butterfly shaped frameworks. The most awful designs are square shaped structures, that make the face look even more angular, as well as glasses that have shade accents on the bottom of the frame, which draw more interest to the square chin.
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A heart designed face has a broad temple and cheekbones together with a little chin. Frames that are slim as well as round will certainly help downplay a large temple. Sunglasses with attractive sides and edges, nonetheless, will certainly make the upper face look even wider.Triangle faces have a narrow forehead, yet wider cheeks and a larger chin. These faces look the best in leading heavy designs, which help cancel the jaw. The worst structures are narrow ones, which throw off the percentages of the face.Learn more about Handmade Luxury Sunglasses here.


BWA's first and longest running program is the highly successful Volunteer Streamwatch. This program enlists the help of nearly 90 volunteers who monitor and act as stewards of the streams near their homes. Volunteers collect water quality data from one or more sites once a month. The data is entered into a database used to provide a graphic, long-term snapshot of the health of the streams.
The largest benefit of the program, however, is the continued stewardship that volunteers provide by observing the day- to-day changes in their stream. Almost 100 sites are monitored throughout the watershed.
What's it like to be a Streamwatcher? Click here for a summary of what these vital volunteers do.
Can you commit 1-2 hours on a monthly basis to monitor one or more streams near your home? Read more at our Streamwatch Volunteer page.
2017 Monroe County Water Quality Study report.
To see the locations tested, click here.
To see the chemical data at those locations, click here.
Everyone can be a steward.
The steps to take and the proper authority(s) to call when you see what you believe is a problem with a stream.


text:
OSI CLP
############################

========
USAGE
========

openMVG uses the [OSI]_ and the [CLP]_ solver in order to solve linear programs [LP]_.

CLP has been choosen because it is known to support problems of up to 1.5 million constraints [CLP FAQ]_.

[LPSOLVE]_ has been tested but tests shown that it is less reliable (sometimes, there is no convergence to a solution).

===========
Description
===========

[OSI]_
  Osi (Open Solver Interface) provides an abstract base class to a generic linear programming (LP) solver, along with derived classes for specific solvers. Many applications may be able to use the Osi to insulate themselves from a specific LP solver. (CLP and MOSEK backend are supported in openMVG).

[CLP]_
  Clp (Coin-or linear programming) is an open-source linear programming solver written in C++.

.. [LP] http://en.wikipedia.org/wiki/Linear_programming
.. [OSI] https://projects.coin-or.org/Osi
.. [CLP] https://projects.coin-or.org/Clp/wiki
.. [CLP_FAQ] https://projects.coin-or.org/Clp/wiki/FAQ
.. [LPSOLVE] http://lpsolve.sourceforge.net/5.5/

redpajama_set_name: RedPajamaGithub


text:
Categories > Games > Final Fantasy 4
His Dance
by doc 0 reviews
Golbez receives a most unusual gift from an unlikely person.
Category: Final Fantasy 4 - Rating: PG - Genres: Drama, Humor - Characters: Cecil, Golbez, Rydia - Warnings: [!] - Published: 2005-06-21 - Updated: 2005-06-21 - 2686 words - Complete
4Insightful
For Yvi.
He watched him in the ballroom, dancing like typical humans do: a strange combination of grace and awkward innocence. It was almost ludicrous, since he wasn't completely human. Cecil was just like a child, he concluded, dancing like there was nothing else, like it was just him and Rosa. And he couldn't say he quite understood why. Were all humans so at peace when they danced?
Golbez felt a frown tug, only slightly, at the corners of his mouth. He had been trying to keep from scowling ever since his brother had caught him and told him immediately to 'lighten up'. It was a ball, after all. It was a party. It was supposed to be fun. It was supposed to be his fun. Golbez's lips became a thin, pale line.
Nevertheless, a scoff forced its way past those firmly pressed lips.
The great wizard Golbez celebrating a birthday? His, no doubt. It had been his brother's idea to throw him a surprise party on some arbitrary day. "Normal people celebrate birthdays, Golbez," the young king of Baron had said. It barely qualified as a surprise. Golbez had figured out the secret days before. But for the sake of his brother's happiness, he figured he'd allow Cecil at least this one small pleasure and feign ignorance to the whole bothersome thing. And bothersome it was, for every one of Cecil's friends came - at Cecil's bidding, obviously. Why else would they bother themselves with the very man they had once banded together to stop? Golbez realized how much Cecil's friends must have cared for the young king to come to such a party (especially when it was for the onetime-evil-wizard-Golbez, of all people).
Or perhaps it is just a debt for them to pay by coming here to celebrate my birthday. Golbez felt himself shudder with the thought. His birthday? Hardly. Cecil just wanted it to be his birthday so he could make his older brother feel 'normal'. I'll never be normal, no matter how much you try, Cecil.
There was a giggle from the luminous Rosa as she was twirled by Cecil; her silk gown twirled after her, wrapping around her lithe figure. Yang was also dancing with his wife, surprisingly with plenty of elegance to spare (Golbez figured the monk-turned-king would have grace, for there was some sort of strange dance involved in fighting). Every now and then the king of Fabul switched dancing partners with Cecil.
A few times Golbez had noticed Rydia glancing towards him from her spot on the ballroom floor; it was a strange look, filled with pity, shyness and bit of apprehension. One time Golbez caught the glance, but her head turned away once again. Another frown came to his pale, dry lips. Why was she looking at him? He shifted awkwardly - something he was growing accustomed to in these past few months in Baron Kingdom. It wasn't as if he could complain, however. Why wouldn't she look at him? After all, it was with his orders that Kainazzo forced Cecil and Kain to burn down her village. Golbez shifted back to his left foot. How long ago had that been? It didn't matter, he realized. Time would never matter again, not to the people whose lives had been destroyed by evil's darkness and greed.
Golbez closed his eyes and tilted his head back against the wall, which he had been leaning on all night, arms folded and a permanent scowl on uneasy lips. Why did he come back here, to this damnable place, of all places? In some sort of sick, ironic way, he had nowhere else to go. And perhaps he didn't want to be anywhere else. Golbez opened an eye to the dimly lit ballroom.
Just as he did, Edge, trying his best to impress Rydia, tripped over her foot and fell face first onto the newly polished floor. A pale hand went over the young Caller's mouth, but try as she might, she couldn't suppress her soft giggles. Edge only rose to his feet seconds later, brushed himself off - all quite regally - and held out his hand for Rydia to take (the smile on his face was nearly unbearable for Golbez). The girl only shook her head, her green hair thrashing her face lightly.
Golbez smiled at that. Shot down again, eh, Edge?
His eyes closed again moments later, but the smile lingered behind on his dry lips. Why were his lips so dry, anyway?
He heard a chair scrape against the floor and the loud thud of a body finding its seat. It must have been Edge. What else was there for a newly appointed king to do after being shot down by a pretty girl? Join Kain and Cid's drinking game, no doubt. Golbez nearly thought of joining him, but there was a small cough suddenly and the skin-pickling sensation of someone standing in front of him. The wizard opened an eye once more (why bother with opening two eyes when it was probably only one of those little pesky wizard kids glaring at him again?). With a small grunt of surprise, his other eye shot open.
"So, you can smile. I was beginning to think Cecil was seeing something in you that wasn't there." Rydia was before him, hands on her hips and not a hint of anything genial on her pale face. "Enjoying yourself at somebody's expense again?"
Golbez didn't bat an eyelash. "Come now, girl. Weren't you the one laughing at him when he fell?"
Rydia's face looked surprised, then relaxed into a small, wry smile. "Yes, but it wasn't in your place to laugh at him. He was falling on the floor for me, you know." She grimaced a moment later, realizing how strange that comment must have sounded.
Golbez lazily closed his eyes. "I didn't laugh. I smiled." Then, before she could add anything else to the ridiculous subject: "Briefly."
There was nothing else from the girl then, no sounds of disagreement, no small but polite coughs. Golbez nearly thought that perhaps she had finally left him alone. And he would have let himself think that, too, if not for the smell of her perfume that was still lingering freshly in the air around him. He felt consumed by the heavy scent, and for a moment he couldn't breathe. His eyes opened quickly.
"Do you have to wear so much of that?" He snapped.
Rydia blinked and looked around, half expecting someone else to be standing next to her. Certainly he hadn't just said that to her. The girl glanced down at her dress and even poked and prodded it.
"I meant your perfume," Golbez said curtly. "Why do you feel the need to hide yourself behind such trivial things?"
"I wouldn't expect you to understand something like perfume." She sounded testy and almost childish. The dark wizard found himself almost smiling again. "Besides, I'm not hiding behind anything. You're the one who's hiding, Golbez."
Golbez felt his skin prickle once more with the sound of his name. Not many people had dared to speak it since he had arrived at Baron; only Cecil spoke directly to him and addressed him so informally. He was his brother and he had the privilege, after all. But the townsfolk didn't. Nevertheless, they would whisper his name contemptuously, like it was a curse that never should be spoken too loud lest he would rise to power again and conquer the world. Golbez watched the girl, half annoyed, half fascinated.
"Hiding? No. I'm certainly not doing /that/."
But Rydia continued talking, as if she had never heard his snide remark, as if there had never been a long and uneasy pause from the dark wizard. "And to think I was going to give you a present," she mumbled. "I didn't want Cecil to be the only one who did. He really went through a lot to give you this party-"
Golbez raised an eyebrow. "A present? From you?" There could be nothing else to describe his tone, other than complete and unabashed astonishment. It was almost like she had smacked him across the face. Truth be told, he probably would have been more comfortable with that.
Rydia collected herself quickly and turned around to walk away. Why was she bothering herself with Golbez? She had only walked over because she didn't like the way he had smiled when Edge fell (even though it had been funny), and she was only mumbling about gifts because she felt stupid for ever thinking of offering him anything. She barely knew the man, other than the greedy, dark part of him that the whole world seemed to be accustomed to.
But before she could get too far, she felt strong fingers wrap around her upper arm and a gentle tug back in the opposite direction.
Her skin felt cool under his touch. "Not that I'm interested... But what was the gift?" As much as he tried, however, Golbez's voice couldn't help but betray the small bit of fascination he now had for the whole predicament.
Rydia pulled away from him, brushed a few stray hairs away from her face and straightened her dress. She looked up at him through squinted, annoyed eyes. "A dance."
Golbez nearly fell back into the wall. "A... dance?"
Caught off guard in a rare non-Golbez moment? Rydia smiled. "Yes."
"With who?"
There was a quick click of her tongue, then a quiet sigh. "With the King of Baron's brother, for his birthday. But don't think I'm doing you any favors. It's only for Cecil's sake-"
"All right."
"-that I even thought of... of..." Rydia choked on her words with big, green eyes. She quickly bit her tongue, praying to the gods that she didn't just hear him say 'all right'. Why didn't she just leave when she had the chance? Maybe she could have caught a dance with Edward or Kain or /anyone else/... "What?" She whispered feebly.
"I said /all right/. If it means that much to Cecil," he said sharply to the gawking girl. He shifted a foot impatiently. "Did you hear me, girl?" He looked as awkward as Rydia felt on the matter.
Rydia frowned. "I have a name."
Golbez grunted. "Are we dancing or not?" He quickly glanced to Cecil, off to the far right. The musicians now were playing a softer, more romantic song and the young king of Baron had Rosa's head resting against his shoulder, her soft curls falling down his back like a waterfall of gold. Perhaps if he saw Golbez dancing he would leave him alone about having a good time...
"I guess so-"
Golbez snatched Rydia's arm and pulled her onto the ballroom floor, where the rest of the room's happily dancing couples stared at them stupidly. Clumsily, he grabbed her hand in his and placed his other on her back, mirroring what the dancing people were doing - or /once were doing/, for now they were trying not to gawk at Golbez and the embarrassed girl in his arms. He felt as incredibly idiotic as he assumed he looked. The mighty dark wizard dancing? The thought nearly was enough to make him blush. And before he could properly arrange his feet (not that he knew how to, anyway), Rydia fell into him with a forceful thud. Golbez slipped on her long dress and stumbled into someone, who fell forward onto their own dancing partner. With a spin of the room and the people in it, Golbez felt himself lurch backwards; his legs couldn't support his body's new position and they finally gave way, toppling him onto the floor - Rydia, who had been clinging to him for dear life, joining him only seconds later.
The music stopped abruptly and everyone in the room had their eyes glued on the pair. And most of their faces were anything but mirthful. It wasn't because they fell, Golbez knew. It was because he had been the one who /made Rydia fall/. The dark wizard felt a groan pass his lips. Would this damnable night ever end?
Cecil and Rosa were just about the only ones who weren't glaring at him.
But before the worried king could make his way over to his brother, a quick snort, followed by a loud, nearly choking-like laugh, came from besides Golbez. Rydia, her head leaning against both her hands, was laughing harder than Golbez had ever seen anyone laugh. It was contagious, too, because the little wizard boy Palom was laughing as well. Of course he received a fairly nasty bop on his head, courtesy of his sister Porom. Cid's daughter, who had forced her father onto the floor for at least one dance, started giggling soon after. A few faceless people in the back began laughing, as well, and suddenly everyone else in the room was chuckling, or snickering, or smiling widely...
Everyone except for Golbez.
Most of the people went back to their dancing with large and shameless grins on their faces, and the music started up again as if it had never stopped to begin with. Rydia stood up slowly, making sure her dress was aligned properly and that none of the lace had been ripped. With a pull and poke and a dusting, her dress and hair were back to normal once again.
"Well," she began with a large smile on her pretty face. "That's not exactly what I wanted. Geez, Golbez. You're worse than Edge. Don't you know how to dance?"
He looked up at her warily, but said nothing.
She shook her head helplessly. "I'll take that as a no."
"Well, when you're destroying half of the world you don't exactly have the time to dance," he said thoughtfully, then quickly bit down on his lip. Of all the things to let pass his mouth, it had to be /that/, didn't it? Still on the floor, he peered up at the girl wisely. But rather than the expected frown and the strange look he thought he would surely receive, there was nothing on her face other than that wide and child-like smile.
The girl simply outstretched a hand to him.
Golbez felt his eyebrow quirk upward. "What are you doing?"
Rydia sighed and tapped her foot impatiently. "Are we dancing or not? I'll have to teach you. Better now then never, right?"
The wizard awkwardly climbed to his feet again, dusting off his pants and watching her with a confused half-frown. Still, he allowed her to take his left hand and place it gently on her back, then take his right hand in her own.
"Good." She smiled again and nodded her head swiftly. "Slow dancing is the simplest form of dance, you know. All you do is..." Rydia stepped gently to the right, then swayed carefully to the left, all the while Golbez following obediently after. "...Is move back and forth. Got it?"
Golbez nodded mutely, his dark eyes wide. It seemed so painfully easy.
Rydia, happy that her 'new student' got the gist of it, rested her head against his shoulder. Green hair flowed down his back. "Who knows? You may even enjoy it. Maybe I can teach you some other moves, too."
Golbez felt himself swallow hard. He was fairly certain that everyone else had heard that lump slide down his throat as well.
"Happy birthday, Golbez," she whispered.
The dark wizard was sure his feet would not hold his body's weight. Miraculously, and with a few quick adjustments of his footing, it did. Golbez began to feel himself slide, ever so slightly, into the simple rhythm of the music. It was almost intoxicating; the smell of her hair and that strange perfume, the hypnotic swaying, the nearly sappy music... With a quick glance to his right, he saw Cecil smiling at him. And as if against his will, Golbez felt his own lips pull upward.
"Thank you..." Then after a small pause: "Rydia."
For the first time that night, Golbez was beginning to think that this whole 'birthday' thing wasn't as bad as he first thought.
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redpajama_set_name: RedPajamaCommonCrawl


text:
PC shipments show longest period of decline
Sam Loveridge | July 11, 2013 2:14 pm BST
PC sales have declined for the fifth quarter in a row, marking it the "longest duration of decline" in the device's history.
According to research firm, Gartner, worldwide PC shipments dropped to 76 million units in the second quarter of 2013, the fifth consecutive quarter decline.
PC sales in Q2 2013 were down 10.9 per cent from the same period in 2012.
Gartner analysts suggest that the rapidly increasing availability of low-cost tablets has had a direct result on PC sales across the globe.
"We are seeing the PC market reduction directly tied to the shrinking installed base of PCs, as inexpensive tablets displace the low-end machines used primarily for consumption in mature and developed markets," said principal analyst at Gartner, Mikako Kitagawa.
In emerging markets especially, consumers have been opting to buy tablets instead of PCs as their first computing device.
"While Windows 8 has been blamed by some as the reason for the PC market's decline, we believe this is unfounded as it does not explain the sustained decline in PC shipments," added Kitagawa.
Another research firm, IDC, also noticed the same trend in PC sales, showing an 11.4 per cent decline worldwide from the figures recorded the same time last year.
IDC said shipments for Q2 2013 were at 75.6 million units as it uses a different method to calculate sales data. It did predict that sales could be on the rise, as the figures were not as low as expected.
"With second quarter growth so close to forecast, we are still looking for some improvement in growth during the second half of the year," said IDC Worldwide PC Tracker senior analyst, Jay Chou.
However, the overall feeling is that the PC sector has a lot of ground to make up in order to turn around the long decline.
"The PC era was over some time ago. We are just seeing it become starkly evident now," explained Victor Basta, MD of M&A advisory firm Magister Advisors. "We track tech investment activity closely and more money has been going into internet opportunities than software and hardware combined in the last 18 months, in anticipation of this trend."
Next, read our pick of the best Windows 8 laptops, tablets, convertibles and PCs.


Mostly sunny. Highs in the upper 60s. South winds around 5 mph.
Mostly cloudy. Rain after midnight. Lows in the upper 40s. Southeast winds 5 to 10 mph. Chance of rain 90 percent.
Rain in the morning, then showers in the afternoon. Highs in the lower 60s. Southeast winds 15 to 20 mph with gusts up to 30 mph. Chance of rain near 100 percent.
Rain showers. Lows in the upper 30s. West winds 10 to 15 mph with gusts up to 25 mph. Chance of rain 90 percent.
Mostly cloudy in the morning, then becoming partly sunny. A 50 percent chance of rain showers. Highs in the upper 40s. West winds 15 to 20 mph with gusts up to 35 mph.
Rain showers likely. Highs in the upper 40s. Chance of rain 70 percent.
Mostly cloudy with a 40 percent chance of showers. Lows in the upper 30s.


text:
12/14/2017 CORPORATE
Atlantic Grupa took over the Red Bull distribution in Serbia
In 2018, the sales is expected to reach EUR 4.5 million
Atlantic Grupa signed the Distribution Agreement with Red Bull for the distribution of this renowned energy drink on the Serbian market, continuing to widen the distribution portfolio in accordance with the Company's expectations and announcements. Holder of the Agreement, the value of which revolves around EUR 4.5 million, which approximately is the annual sales amount, is the Atlantic's distribution company Atlantic Brands, headquartered in Belgrade.
Red Bull GmbH, with headquarters in Austria, as the owner of the brand carrying the same name, recognized Atlantic as the strategic partner with which it can realize its ambitious business goals. Atlantic Brands is the leading distributor of fast moving consumer goods on the Serbian territory, with a wide portfolio of prominent brands such as Štark, Smoki, Najlepše želje, Bananica, Argeta, Bakina Tajna, Grand kafa, Barcaffe, Cedevita and Cockta – from its own production range, as well as renowned principals such as Rauch, Becutan - Alkaloid and one of the world's leading spirits producer Beam Suntory.
"In addition to the product range strength, high level of the distribution network development, as well as excellent coverage of the distribution channels, especially in the retail and HoReCa segment, excellent relationships with the key buyers and overall level of the distribution service that Atlantic has established in the course of 26 years of doing business in this industry had a decisive significance for making a new partnership", stated Srećko Nakić, Vice President of Atlantic Grupa for Distribution. "We are exceptionally pleased with widening of the portfolio by adding a world-renowned brand such as Red Bull, and generally speaking, with the development and the expansion of the distribution activity, which is a part of the long-term business strategy of Atlantic Grupa", he added.
PREVIOUS ALL NEWS NEXT
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Atlantic Takes Sells Bionatura as Part of its Focused Strategy
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Atlantic Signs a Contract Worth More Than HRK 100 Million with Saponia and Kandit


text:
Azerbaijan Iran Tajikistan Turkmenistan All countries
All countries Turkmenistan Ahal Province Ashgabat (airport)
Weather in Ashgabat (airport)
Weather archive at the weather station ( 3 km, +1 °C+34 °F )
11 °C52°F
57 minutes ago at the airport it was +9 °C+48 °F, variable clouds, normal air pressure, light air (1 m/s) (4 km/h) (2 mph) (2 knots) (1 Bft), variable wind direction. Weather archive at the airport
Today we expect +16..+8 °C°F, +61..+46 °C°F, without precipitation, light breeze. Tomorrow: +6..+13 °C°F, +43..+55 °C°F, light rain, fog, moderate breeze.
direction W S SW NW SE SE S E SE NE E NE W SW SE N SE E W NW W E E E SW S S
direction E E NE NE W W W NW S S SW S S SW S SW SW SW SW S W NW NW NW W S S S SE SE S S E E E SE SE SE S S S S SE SE SE SE E E E SE calm NE E E E NE NW W W SW S SE SW N SE SE E E SW W NW NW NW W W E SE E E SW S S direction
34 29 27 28 30 34 52 71 66 54 64 64 70 69 68 67 64 61 77 71 79 69 75 76 70 66 61 66 69 67 70 82 78 81 78 78 85 89 87 90 87 86 96 94 94 95 100 96 72 60 75 69 85 86 94 98 77 63 77 79 84 78 80 51 32 28 37 54 70 55 80 70 49 41 65 73 83 83 89 32 59 43 Humidity,
13:41 04:07 14:23 05:08 15:12 06:05 16:07 06:55 17:05 07:38 18:06 08:15 19:07 08:46 20:07 Moon:
is available on the website rp5.by
4 hours ago in Erbent there was a below-freezing ground temperature ( -1 oC +30 oF ) while the air temperature was above freezing.
4 hours ago, the minimum air temperature ( 0 oC +32 oF ) was observed in Tedzen.
57 minutes ago, the maximum air temperature ( +13 oC +55 oF ) was observed in Saragt.
Annau
Bojnourd (airport)
Mashhad (airport)
Tedzen


text:
Q: Glassfish server - start in same command prompt window When I run asadmin start-domain it launches glassfish in a new command prompt window. I want to launch it from the same window I launch the command from. The idea is I want to launch GF3 from a Console2 tab and leave it running there rather than having multiple GF cmd windows.

A: To start a console app in the same cmd window as the batch file you can use call
call asadmin start-domain

Which will run the console app and then return to the batch file, without creating a new window.
You can also start it off in it's own thread so to speak, and also in the same window
start /b asadmin start-domain

call is generally better, but it's up to you.

redpajama_set_name: RedPajamaStackExchange


text:
package dollar.internal.runtime.script.api;

import dollar.api.script.Source;
import org.jetbrains.annotations.NotNull;

public interface Operator {

    void setSource(@NotNull Source source);
}