ITEM 6.
SELECTED FINANCIAL DATA Consolidated Financial Data—Five Year Summary
## Table 0 ##
Product Sales Our product sales represent about 80% of our net sales for both 2012 and 2011.
Product sales increased $892 million, or 2% in 2012 compared to 2011 due to production volume and deliveries, as well as higher risk retirements on certain programs.
Product sales increased about $555 million at Aeronautics (e. g. , F-35 LRIP contracts, F-16 deliveries); about $510 million at MST (e. g. , ship and aviation system programs); about $225 million at Space Systems (e. g. , commercial satellites, Orion Multi-Purpose Crew Vehicle (Orion) program); and about $100 million at MFC (e. g. , tactical missile programs and air and missile defense programs).
These increases partially were offset by lower product sales of about $495 million at IS&GS (e. g. , Joint Tactical Radio System (JTRS), U. K.  Census).
Our product sales represent about 80% of our net sales for both 2011 and 2010.
Product sales increased $545 million, or 1%, in 2011 compared to 2010 due to production volume and deliveries, as well as higher risk retirements on certain programs.
Product sales increased about $1.2 billion at Aeronautics (e. g. , F-35 LRIP contracts, C-130 programs) and about $320 million at MFC (e. g. , air and missile defense programs).
These increases partially were offset by lower product sales of about $700 million at IS&GS (e. g. , Decennial Response Integration System (DRIS) program that supported the 2010 U. S.  census, JTRS); about $260 million at MST (e. g. , ship and aviation system programs); and about $60 million at Space Systems (e. g. , Orion program and the National Aeronautics and Space Administration (NASA) External Tank program).
Services Sales Our services sales represent about 20% of our net sales for 2012 and 2011.
Our services sales decreased $209 million, or 2%, during 2012 compared to 2011.
Services sales at MFC decreased about $105 million primarily due to lower volume and risk retirements on various services programs.
Services sales at MST decreased about $60 million primarily due to lower volume on various training services programs.
Services sales at IS&GS decreased about $40 million primarily due to the substantial completion of the Outsourcing Desktop Initiative for NASA (ODIN) during 2011 and lower volume on the Hanford Mission Support (Hanford) contract, partially offset by higher net sales from QTC, which was acquired in the fourth quarter of 2011.
Our services sales represent about 20% of our net sales for 2011 and 2010.
Our services sales increased $283 million, or 3%, during 2011 compared to 2010.
The increase in services sales was attributable to higher services sales at both our MFC and IS&GS business segments.
Services sales at MFC increased about $215 million primarily due to growth on the Special Operations Forces Contractor Logistics Support Services (SOF CLSS) program, partially offset by decreased volume on various services programs.
Services sales at IS&GS increased about $155 million due to activities on a number of smaller contracts.
Cost of Sales Cost of sales, for both products and services, consist of materials, labor, and subcontracting costs, as well as an allocation of indirect costs (overhead and general and administrative).
For each of our contracts, we monitor the nature and amount of costs at the contract level, which form the basis for estimating our total costs at completion of the contract.
Our consolidated cost of sales were as follows (in millions):
## Table 1 ##
Due to the nature of POC accounting, changes in our cost of product and services sales are typically accompanied by changes in our net sales.
The following discussion of material changes in our consolidated cost of sales should be read in tandem with the preceding discussion of changes in our consolidated net sales and with our “Business Segment Results of Operations” section.
We have not identified any developing trends in cost of sales that would have a material impact on our future operations.
Note 2 – Earnings Per Share The weighted average number of shares outstanding used to compute earnings per common share were as follows (in millions):
## Table 2 ##
We compute basic and diluted earnings per common share by dividing net earnings by the respective weighted average number of common shares outstanding for the periods presented.
Our calculation of diluted earnings per common share includes the dilutive effects for the assumed exercise of stock options and vesting of restricted stock units based on the treasury stock method.
The computation of diluted earnings per common share excluded 8.0 million, 13.4 million, and 14.7 million stock options for the years ended December 31, 2012, 2011, and 2010 because their inclusion would have been anti-dilutive, primarily due to their exercise prices exceeding the average market price of our common stock during each respective reporting period.
Note 3 – Information on Business Segments We organize our business segments based on the nature of the products and services offered.
Effective December 31, 2012, we operate in five business segments: Aeronautics, Information Systems & Global Solutions (IS&GS), Missiles and Fire Control (MFC), Mission Systems and Training (MST), and Space Systems.
This structure reflects the reorganization of our former Electronic Systems business segment into the new MFC and MST business segments in order to streamline our operations and enhance customer alignment.
In connection with this reorganization, management layers at our former Electronic Systems business segment and our former Global Training and Logistics (GTL) business were eliminated, and the former GTL business was split between the two new business segments.
In addition, operating results for Sandia Corporation, which manages the Sandia National Laboratories for the U. S.  Department of Energy, and our equity interest in the U. K.  Atomic Weapons Establishment joint venture were transferred from our former Electronic Systems business segment to our Space Systems business segment.
The amounts, discussion, and presentation of our business segments reflect this reorganization for all years presented in this Annual Report on Form 10-K.
The following is a brief description of the activities of our business segments: ‰ Aeronautics – Engaged in the research, design, development, manufacture, integration, sustainment, support, and upgrade of advanced military aircraft, including combat and air mobility aircraft, unmanned air vehicles, and related technologies.
‰ Information Systems & Global Solutions – Provides management services, integrated information technology solutions, and advanced technology systems and expertise across a broad spectrum of applications for civil, defense, intelligence, and other government customers.
‰ Missiles and Fire Control – Provides air and missile defense systems; tactical missiles and air-to-ground precision strike weapon systems; fire control systems; mission operations support, readiness, engineering support, and integration services; logistics and other technical services; and manned and unmanned ground vehicles.
‰ Mission Systems and Training – Provides surface ship and submarine combat systems; sea and land-based missile defense systems; radar systems; mission systems and sensors for rotary and fixed-wing aircraft; littoral combat ships; simulation and training services; unmanned technologies and platforms; ship systems integration; and military and commercial training systems.
‰ Space Systems – Engaged in the research and development, design, engineering, and production of satellites, strategic and defensive missile systems, and space transportation systems.
Space Systems is also responsible for various classified systems and services in support of vital national security systems.
Operating results for our Space Systems business segment include our equity interests in United Launch Alliance, which provides expendable launch services for the U. S.  Government, United Space Alliance, which provided processing activities for the Space Shuttle program and is winding down following the completion of the last Space Shuttle mission in 2011, and a joint venture that manages the U. K. ’s Atomic Weapons Establishment program.
We expect that approximately $1.6 billion, or $1.0 billion net of tax, of actuarial losses and prior service cost related to postretirement benefit plans included in accumulated other comprehensive loss at the end of 2012 to be recognized in net periodic benefit cost during 2013.
Of this amount, $1.5 billion, or $963 million net of tax, primarily relates to actuarial losses associated with our qualified defined benefit plans and is included in our expected 2013 pension expense of $1.9 billion.
Actuarial Assumptions The actuarial assumptions used to determine the benefit obligations at December 31 of each year, and to determine the net periodic benefit cost for each subsequent year, were as follows:
## Table 3 ##
The decrease in the discount rate from December 31, 2011 to December 31, 2012 and from December 31, 2010 to December 31, 2011 resulted in an increase in the projected benefit obligations of our qualified defined benefit pension plans of approximately $4.5 billion and $3.8 billion at December 31, 2012 and 2011.
The long-term rate of return assumption represents the expected average rate of earnings on the funds invested or to be invested to provide for the benefits included in the benefit obligations.
That assumption is based on several factors including historical market index returns, the anticipated long-term asset allocation of plan assets, the historical return data, plan expenses, and the potential to outperform market index returns.
Plan Assets Investment policies and strategies – Lockheed Martin Investment Management Company (LMIMCo), our whollyowned subsidiary, has the fiduciary responsibility for making investment decisions related to the assets of our postretirement benefit plans.
LMIMCo’s investment objectives for the assets of these plans are (1) to minimize the net present value of expected funding contributions; (2) to ensure there is a high probability that each plan meets or exceeds our actuarial longterm rate of return assumptions; and (3) to diversify assets to minimize the risk of large losses.
The nature and duration of benefit obligations, along with assumptions concerning asset class returns and return correlations, are considered when determining an appropriate asset allocation to achieve the investment objectives.
Investment policies and strategies governing the assets of the plans are designed to achieve investment objectives within prudent risk parameters.
Risk management practices include the use of external investment managers; the maintenance of a portfolio diversified by asset class, investment approach, and security holdings; and the maintenance of sufficient liquidity to meet benefit obligations as they come due.
LMIMCo’s investment policies require that asset allocations of postretirement benefit plans be maintained within the following approximate ranges:

<table><tr><td><i>(In millions, except per share data and ratios)</i></td><td>2006 (a)</td><td>2005 (b)</td><td>2004 (c)</td><td>2003 (d)</td><td>2002 (e)</td></tr><tr><td> OPERATING RESULTS</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Net sales</td><td>$39,620</td><td>$37,213</td><td>$35,526</td><td>$31,824</td><td>$26,578</td></tr><tr><td>Cost of sales</td><td>36,186</td><td>34,676</td><td>33,558</td><td>29,848</td><td>24,629</td></tr><tr><td></td><td>3,434</td><td>2,537</td><td>1,968</td><td>1,976</td><td>1,949</td></tr><tr><td>Other income and expenses, net</td><td>519</td><td>449</td><td>121</td><td>43</td><td>-791</td></tr><tr><td>Operating profit</td><td>3,953</td><td>2,986</td><td>2,089</td><td>2,019</td><td>1,158</td></tr><tr><td>Interest expense</td><td>361</td><td>370</td><td>425</td><td>487</td><td>581</td></tr><tr><td>Earnings from continuing operations beforeincome taxes</td><td>3,592</td><td>2,616</td><td>1,664</td><td>1,532</td><td>577</td></tr><tr><td>Income tax expense</td><td>1,063</td><td>791</td><td>398</td><td>479</td><td>44</td></tr><tr><td>Earnings from continuing operations</td><td>2,529</td><td>1,825</td><td>1,266</td><td>1,053</td><td>533</td></tr><tr><td>Loss from discontinued operations</td><td>—</td><td>—</td><td>—</td><td>—</td><td>-33</td></tr><tr><td>Net earnings</td><td>$2,529</td><td>$1,825</td><td>$1,266</td><td>$1,053</td><td>$500</td></tr><tr><td> EARNINGS (LOSS) PER COMMON SHARE</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Basic:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Continuing operations</td><td>$5.91</td><td>$4.15</td><td>$2.86</td><td>$2.36</td><td>$1.20</td></tr><tr><td>Discontinued operations</td><td>—</td><td>—</td><td>—</td><td>—</td><td>-0.07</td></tr><tr><td></td><td>$5.91</td><td>$4.15</td><td>$2.86</td><td>$2.36</td><td>$1.13</td></tr><tr><td>Diluted:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Continuing operations</td><td>$5.80</td><td>$4.10</td><td>$2.83</td><td>$2.34</td><td>$1.18</td></tr><tr><td>Discontinued operations</td><td>—</td><td>—</td><td>—</td><td>—</td><td>-0.07</td></tr><tr><td></td><td>$5.80</td><td>$4.10</td><td>$2.83</td><td>$2.34</td><td>$1.11</td></tr><tr><td> CASH DIVIDENDS</td><td>$1.25</td><td>$1.05</td><td>$0.91</td><td>$0.58</td><td>$0.44</td></tr><tr><td> CONDENSED BALANCE SHEET DATA</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Current assets</td><td>$10,164</td><td>$10,529</td><td>$8,953</td><td>$9,401</td><td>$10,626</td></tr><tr><td>Property, plant and equipment, net</td><td>4,056</td><td>3,924</td><td>3,599</td><td>3,489</td><td>3,258</td></tr><tr><td>Goodwill</td><td>9,250</td><td>8,447</td><td>7,892</td><td>7,879</td><td>7,380</td></tr><tr><td>Purchased intangibles, net</td><td>605</td><td>560</td><td>672</td><td>807</td><td>814</td></tr><tr><td>Prepaid pension asset</td><td>235</td><td>1,360</td><td>1,030</td><td>1,213</td><td>1,221</td></tr><tr><td>Other assets</td><td>3,921</td><td>2,924</td><td>3,408</td><td>3,386</td><td>3,680</td></tr><tr><td>Total</td><td>$28,231</td><td>$27,744</td><td>$25,554</td><td>$26,175</td><td>$26,979</td></tr><tr><td>Current maturities of long-term debt</td><td>$34</td><td>$202</td><td>$15</td><td>$136</td><td>$1,365</td></tr><tr><td>Other current liabilities</td><td>9,519</td><td>9,226</td><td>8,551</td><td>8,757</td><td>8,456</td></tr><tr><td>Long-term debt, net</td><td>4,405</td><td>4,784</td><td>5,104</td><td>6,072</td><td>6,217</td></tr><tr><td>Accrued pension liabilities</td><td>3,025</td><td>2,097</td><td>1,660</td><td>1,100</td><td>1,872</td></tr><tr><td>Other postretirement benefit liabilities</td><td>1,496</td><td>1,277</td><td>1,236</td><td>1,440</td><td>1,480</td></tr><tr><td>Other liabilities</td><td>2,868</td><td>2,291</td><td>1,967</td><td>1,914</td><td>1,724</td></tr><tr><td>Stockholders’ equity</td><td>6,884</td><td>7,867</td><td>7,021</td><td>6,756</td><td>5,865</td></tr><tr><td>Total</td><td>$28,231</td><td>$27,744</td><td>$25,554</td><td>$26,175</td><td>$26,979</td></tr><tr><td> COMMON SHARES AT YEAR-END</td><td>421</td><td>432</td><td>438</td><td>446</td><td>455</td></tr><tr><td> RETURN ON INVESTED CAPITAL<sup>(f)</sup></td><td>19.2%</td><td>14.5%</td><td>10.8%</td><td>9.6%</td><td>6.0%</td></tr><tr><td> CASH FLOW DATA</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Cash provided by operating activities</td><td>$3,783</td><td>$3,194</td><td>$2,924</td><td>$1,809</td><td>$2,288</td></tr><tr><td>Cash used for investing activities</td><td>-1,655</td><td>-499</td><td>-708</td><td>-1,461</td><td>-539</td></tr><tr><td>Cash (used for) provided by financing activities</td><td>-2,460</td><td>-1,511</td><td>-2,166</td><td>-2,076</td><td>77</td></tr><tr><td> NEGOTIATED BACKLOG</td><td>$75,905</td><td>$74,825</td><td>$73,986</td><td>$76,899</td><td>$70,385</td></tr></table>
<table><tr><td></td><td> 2012</td><td> 2011</td><td> 2010</td></tr><tr><td> Cost of sales</td><td></td><td></td><td></td></tr><tr><td>Cost of product sales</td><td>$33,495</td><td>$32,968</td><td>$32,539</td></tr><tr><td>% of product sales</td><td>88.6%</td><td>89.3%</td><td>89.4%</td></tr><tr><td>Cost of services sales</td><td>8,383</td><td>8,514</td><td>8,382</td></tr><tr><td>% of services sales</td><td>89.5%</td><td>88.9%</td><td>90.2%</td></tr><tr><td>Severance and other charges</td><td>48</td><td>136</td><td>220</td></tr><tr><td>Other unallocated costs</td><td>1,060</td><td>1,137</td><td>686</td></tr><tr><td>Total</td><td>$42,986</td><td>$42,755</td><td>$41,827</td></tr></table>
<table><tr><td></td><td>2012</td><td>2011</td><td>2010</td></tr><tr><td>Weighted average common shares outstanding for basic computations</td><td>323.7</td><td>335.9</td><td>364.2</td></tr><tr><td>Weighted average dilutive effect of stock options and restricted stockunits</td><td>4.7</td><td>4.0</td><td>4.1</td></tr><tr><td>Weighted average common shares outstanding for diluted computations</td><td>328.4</td><td>339.9</td><td>368.3</td></tr></table>
<table><tr><td></td><td colspan="3"> Qualified Defined Benefit Pension Plans</td><td colspan="3"> Retiree Medical and Life Insurance Plans</td></tr><tr><td></td><td> 2012</td><td> 2011</td><td> 2010</td><td> 2012</td><td> 2011</td><td> 2010</td></tr><tr><td>Discount rate</td><td> 4.00%</td><td>4.75%</td><td>5.50%</td><td> 3.75%</td><td>4.50%</td><td>5.50%</td></tr><tr><td>Expected long-term rate of return on assets</td><td> 8.00%</td><td>8.00%</td><td>8.50%</td><td> 8.00%</td><td>8.00%</td><td>8.50%</td></tr><tr><td>Rate of increase in future compensation levels</td><td> 4.30%</td><td>4.30%</td><td>4.40%</td><td></td><td></td><td></td></tr><tr><td>Health care trend rate assumed for next year</td><td></td><td></td><td></td><td> 9.00%</td><td>9.50%</td><td>10.00%</td></tr><tr><td>Ultimate health care trend rate</td><td></td><td></td><td></td><td> 5.00%</td><td>5.00%</td><td>5.50%</td></tr><tr><td>Year that the ultimate health care trend rate is reached</td><td></td><td></td><td></td><td> 2029</td><td>2021</td><td>2021</td></tr></table>

Question: What's the greatest value of OPERATING RESULTS in 2006?
Answer: 39620