ITEM 6.
SELECTED FINANCIAL DATA Consolidated Financial Data—Five Year Summary
## Table 0 ##
Notes to Five Year Summary (a) In 2007, we reclassified interest income and certain other debt-related expenses from Other income (expense), net to Other non-operating income (expense), net on our Statement of Earnings.
All amounts for prior periods in the table above have been reclassified to conform to the 2007 presentation.
(b) Includes the effects of items not considered in the assessment of the operating performance of our business segments (see the section, “Results of Operations – Unallocated Corporate Income (Expense), Net” in Management’s Discussion and Analysis of Financial Condition and Results of Operations (MD&A)) which increased Operating profit by $71 million, $46 million after tax ($0.11 per share).
Also includes a reduction in Income tax expense of $59 million ($0.14 per share) resulting from the closure of Internal Revenue Service examinations for the 2003 and 2004 tax years and claims we filed for additional extraterritorial income tax benefits for years prior to 2005.
On a combined basis, these items increased earnings by $105 million after tax ($0.25 per share).
ineffective portion of the hedges or of derivatives that are not considered to be highly effective hedges, if any, are immediately recognized in earnings.
The aggregate notional amount of our outstanding interest rate swaps at December 31, 2014 and 2013 was $1.3 billion and $1.2 billion.
The aggregate notional amount of our outstanding foreign currency hedges at December 31, 2014 and 2013 was $804 million and $1.0 billion.
Derivative instruments did not have a material impact on net earnings and comprehensive income during 2014, 2013 and 2012.
Substantially all of our derivatives are designated for hedge accounting.
See Note 15 for more information on the fair value measurements related to our derivative instruments.
Recent Accounting Pronouncements – In May 2014, the Financial Accounting Standards Board (FASB) issued a new standard that will change the way we recognize revenue and significantly expand the disclosure requirements for revenue arrangements.
Unless the FASB delays the effective date of the new standard, it will be effective for us beginning on January 1, 2017 and may be adopted either retrospectively or on a modified retrospective basis whereby the new standard would be applied to new contracts and existing contracts with remaining performance obligations as of the effective date, with a cumulative catch-up adjustment recorded to beginning retained earnings at the effective date for existing contracts with remaining performance obligations.
Early adoption is not permitted.
We are currently evaluating the methods of adoption allowed by the new standard and the effect the standard is expected to have on our consolidated financial statements and related disclosures.
As the new standard will supersede substantially all existing revenue guidance affecting us under GAAP, it could impact revenue and cost recognition on thousands of contracts across all our business segments, in addition to our business processes and our information technology systems.
As a result, our evaluation of the effect of the new standard will extend over future periods.
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 1 ##
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 also includes the dilutive effects for the assumed vesting of outstanding restricted stock units and exercise of outstanding stock options based on the treasury stock method.
The computation of diluted earnings per common share excluded 2.4 million and 8.0 million stock options for the years ended December 31, 2013 and 2012 because their inclusion would have been anti-dilutive, primarily due to their exercise prices exceeding the average market prices of our common stock during the respective periods.
There were no anti-dilutive equity awards for the year ended December 31, 2014.
Note 3 – Information on Business Segments We operate in five business segments: Aeronautics, Information Systems & Global Solutions (IS&GS), MFC, Mission Systems and Training (MST) and Space Systems.
We organize our business segments based on the nature of the products and services offered.
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 advanced technology systems and expertise, integrated information technology solutions and management services 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; logistics and other technical services; fire control systems; mission operations support, readiness, engineering support and integration services; and manned and unmanned ground vehicles.
in net periodic benefit cost during 2015.
Of this amount, $1.2 billion, or $781 million net of tax, primarily relates to actuarial losses associated with our qualified defined benefit plans and is included in our expected 2015 pension expense of $1.1 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 2 ##
The decrease in the discount rate from December 31, 2013 to December 31, 2014 resulted in an increase in the projected benefit obligations of our qualified defined benefit pension plans of approximately $4.8 billion at December 31, 2014.
The increase in the discount rate from December 31, 2012 to December 31, 2013 resulted in a decrease in the projected benefit obligations of our qualified defined benefit pension plans of approximately $4.4 billion at December 31, 2013.
The long-term rate of return assumption represents the expected long-term 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 allocation of plan assets, the historical return data for the trust funds, plan expenses and the potential to outperform market index returns.
Plan Assets Investment policies and strategies – Lockheed Martin Investment Management Company (LMIMCo), our wholly-owned 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 long-term 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:

Tables referenced above, in order (Table 0 first):
<table><tr><td><i>(In millions, except per share data and ratios)</i></td><td>2007 (b)</td><td>2006 (c)</td><td>2005 (d)</td><td>2004 (e)</td><td>2003<sup>(f)</sup></td></tr><tr><td> OPERATING RESULTS<sup>(a)</sup></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Net sales</td><td>$41,862</td><td>$39,620</td><td>$37,213</td><td>$35,526</td><td>$31,824</td></tr><tr><td>Cost of sales</td><td>37,628</td><td>36,186</td><td>34,676</td><td>33,558</td><td>29,848</td></tr><tr><td></td><td>4,234</td><td>3,434</td><td>2,537</td><td>1,968</td><td>1,976</td></tr><tr><td>Other income (expense), net</td><td>293</td><td>336</td><td>316</td><td>171</td><td>114</td></tr><tr><td>Operating profit</td><td>4,527</td><td>3,770</td><td>2,853</td><td>2,139</td><td>2,090</td></tr><tr><td>Interest expense</td><td>352</td><td>361</td><td>370</td><td>425</td><td>487</td></tr><tr><td>Other non-operating income (expense), net</td><td>193</td><td>183</td><td>133</td><td>-50</td><td>-71</td></tr><tr><td>Earnings before income taxes</td><td>4,368</td><td>3,592</td><td>2,616</td><td>1,664</td><td>1,532</td></tr><tr><td>Income tax expense</td><td>1,335</td><td>1,063</td><td>791</td><td>398</td><td>479</td></tr><tr><td>Net earnings</td><td>$3,033</td><td>$2,529</td><td>$1,825</td><td>$1,266</td><td>$1,053</td></tr><tr><td> EARNINGS PER COMMON SHARE</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Basic</td><td>$7.29</td><td>$5.91</td><td>$4.15</td><td>$2.86</td><td>$2.36</td></tr><tr><td>Diluted</td><td>$7.10</td><td>$5.80</td><td>$4.10</td><td>$2.83</td><td>$2.34</td></tr><tr><td> CASH DIVIDENDS</td><td>$1.47</td><td>$1.25</td><td>$1.05</td><td>$0.91</td><td>$0.58</td></tr><tr><td> CONDENSED BALANCE SHEET DATA</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Cash and cash equivalents</td><td>$2,648</td><td>$1,912</td><td>$2,244</td><td>$1,060</td><td>$1,010</td></tr><tr><td>Short-term investments</td><td>333</td><td>381</td><td>429</td><td>396</td><td>240</td></tr><tr><td>Other current assets</td><td>7,959</td><td>7,871</td><td>7,856</td><td>7,497</td><td>8,151</td></tr><tr><td>Property, plant and equipment, net</td><td>4,320</td><td>4,056</td><td>3,924</td><td>3,599</td><td>3,489</td></tr><tr><td>Goodwill</td><td>9,387</td><td>9,250</td><td>8,447</td><td>7,892</td><td>7,879</td></tr><tr><td>Purchased intangibles, net</td><td>463</td><td>605</td><td>560</td><td>672</td><td>807</td></tr><tr><td>Prepaid pension asset</td><td>313</td><td>235</td><td>1,360</td><td>1,030</td><td>1,213</td></tr><tr><td>Other assets</td><td>3,503</td><td>3,921</td><td>2,924</td><td>3,408</td><td>3,386</td></tr><tr><td>Total</td><td>$28,926</td><td>$28,231</td><td>$27,744</td><td>$25,554</td><td>$26,175</td></tr><tr><td>Current maturities of long-term debt</td><td>$104</td><td>$34</td><td>$202</td><td>$15</td><td>$136</td></tr><tr><td>Other current liabilities</td><td>9,767</td><td>9,519</td><td>9,226</td><td>8,551</td><td>8,757</td></tr><tr><td>Long-term debt, net</td><td>4,303</td><td>4,405</td><td>4,784</td><td>5,104</td><td>6,072</td></tr><tr><td>Accrued pension liabilities</td><td>1,192</td><td>3,025</td><td>2,097</td><td>1,660</td><td>1,100</td></tr><tr><td>Other postretirement benefit liabilities</td><td>928</td><td>1,496</td><td>1,277</td><td>1,236</td><td>1,440</td></tr><tr><td>Other liabilities</td><td>2,827</td><td>2,868</td><td>2,291</td><td>1,967</td><td>1,914</td></tr><tr><td>Stockholders’ equity</td><td>9,805</td><td>6,884</td><td>7,867</td><td>7,021</td><td>6,756</td></tr><tr><td>Total</td><td>$28,926</td><td>$28,231</td><td>$27,744</td><td>$25,554</td><td>$26,175</td></tr><tr><td> COMMON SHARES AT YEAR-END</td><td>409</td><td>421</td><td>432</td><td>438</td><td>446</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>$4,241</td><td>$3,783</td><td>$3,194</td><td>$2,924</td><td>$1,809</td></tr><tr><td>Cash used for investing activities</td><td>-1,205</td><td>-1,655</td><td>-499</td><td>-708</td><td>-1,461</td></tr><tr><td>Cash used for financing activities</td><td>-2,300</td><td>-2,460</td><td>-1,511</td><td>-2,166</td><td>-2,076</td></tr><tr><td> RETURN ON INVESTED CAPITAL<sup>(g)</sup></td><td>21.4%</td><td>19.2%</td><td>14.5%</td><td>10.8%</td><td>9.6%</td></tr><tr><td> NEGOTIATED BACKLOG</td><td>$76,660</td><td>$75,905</td><td>$74,825</td><td>$73,986</td><td>$76,899</td></tr></table>
<table><tr><td></td><td>2014</td><td>2013</td><td>2012</td></tr><tr><td>Weighted average common shares outstanding for basic computations</td><td>316.8</td><td>320.9</td><td>323.7</td></tr><tr><td>Weighted average dilutive effect of equity awards</td><td>5.6</td><td>5.6</td><td>4.7</td></tr><tr><td>Weighted average common shares outstanding for diluted computations</td><td>322.4</td><td>326.5</td><td>328.4</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> 2014</td><td> 2013</td><td> 2012</td><td> 2014</td><td> 2013</td><td> 2012</td></tr><tr><td>Discount rate</td><td> 4.00%</td><td>4.75%</td><td>4.00%</td><td> 3.75%</td><td>4.50%</td><td>3.75%</td></tr><tr><td>Expected long-term rate of return on assets</td><td> 8.00%</td><td>8.00%</td><td>8.00%</td><td> 8.00%</td><td>8.00%</td><td>8.00%</td></tr><tr><td>Rate of increase in future compensation levels</td><td> 4.30%</td><td>4.30%</td><td>4.30%</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> 8.50%</td><td>8.75%</td><td>9.00%</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>5.00%</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>2029</td><td>2029</td></tr></table>

Question: what is the highest total amount of Long-term debt, net?
Answer: 6072