Political Action Committee

Lockheed Martin is committed to participating in the political and public policy process in a responsible and ethical way that serves the best interests of our stockholders and customers.  We operate in the highly regulated global security industry, and our operations are affected by the actions of elected and appointed officials at many levels of government.  Our public policy activities include advocacy efforts at the federal and state levels, thought leadership regarding global security trends, and other important issues impacting the Corporation and our customers, educational outreach and promotion, and other related activities. 

Lockheed Martin complies with all applicable laws and regulations in connection with the Company’s political and public policy activities. Any political or other public policy activities in which Lockheed Martin engages are based solely upon the best interests of the Company and fully comply with all internal policies and procedures. 

Political Action Committee
The Corporation maintains a political action committee comprised of voluntary contributions from eligible employees.  The Lockheed Martin Employees’ Political Action Committee (LMEPAC) supports federal and state political candidates who support national defense and other business issues of interest to the corporation.  All LMEPAC contributions are fully disclosed in reports filed with the Federal Election Commission (FEC) and can be accessed by going to the FEC website www.fec.gov

Governor’s Associations
The only non-federal section 527-organizations to which Lockheed Martin provides funding are the Democratic Governors Association (DGA) and Republican Governors Association (RGA).  We maintain memberships in the DGA and RGA as a means to support our operations in all fifty states.  In over half the states in which we operate we employ from a low thousand to over twenty thousand people.  We do not consult with the DGA and RGA regarding the expenditure of their funds.  The primary contact with the DGA and RGA is Larry Duncan, Vice President of Federal and State Government Relations and PAC Affairs. 

Corporate Political Expenditures
In certain states where permitted by law, Lockheed Martin makes corporate political contributions in accordance with established criteria, including candidates and political committees whose positions on business issues are important to the Corporation; candidates who represent geographic areas where Corporate facilities are located; or candidates who have leadership positions or committee assignments that are important to the Corporation’s interests.

Lockheed Martin’s corporate political contributions are made solely based upon the best interests of the Corporation without regard to the political preferences of its officers and/or executives.  All corporate contributions are fully disclosed with the appropriate state or local campaign finance authority, as well as published annually on this website.  The following corporate political contributions were made in 2012:

Contributing to Policy Debates
Lockheed Martin contributes to public policy debates by participating in trade and industry associations, as well as engaging directly in advocacy and grassroots communications efforts.  In the U.S. we advocate strong national defense, sustained space exploration, development of alternative energy technologies, corporate tax issues (including tax incentives for corporate research and development), export policy and international trade. 

We join trade associations to share with other companies in our industry technical and standards expertise and to be part of an important public education effort regarding major issues of common concern to our industries.  Our participation in trade associations is subject to management oversight and membership requires management approval.

Per the requirements of Section 162(e)(1) of the Internal Revenue Code, the trade associations to which we contribute must provide us with the percentage of our annual dues that are used for lobbying .  The following are those trade associations to which Lockheed Martin paid dues of $50,000 or more in 2012 (and the portion of our dues which was reported as being used for lobbying, in ranges of $25,000):

Aerospace Industries Association (nondeductible portion less than $100,000), U.S. Chamber of Commerce (nondeductible portion less than $50,000), and Telecommunications Industry Association (nondeductible portion less than $25,000)

Lockheed Martin files quarterly disclosure reports with the Clerk of the House and Secretary of the Senate regarding payments for all federal lobbying activities.  These reports disclose all direct and indirect expenses related to lobbying, expenditures for grassroots efforts, and payments to trade associations that are used for lobbying.  The reports are available here:  http://disclosures.house.gov/ld/ldsearch.aspx.  (Search Field: "Registrant Name"  Criteria: "Lockheed").  In states where the Corporation is engaged in advocacy efforts and is registered to lobby, the Corporation files reports as required with the state ethics agency.  Lockheed Martin files all lobbying disclosure reports at the federal and state level in a complete and timely manner in accordance with applicable requirements.