Political Action Committee

The Corporation maintains a political action committee. 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 reported to the Federal Election Commission (FEC) and can be accessed by going to the FEC website, www.fec.gov.

Soft Money

Lockheed Martin provides no soft money to 527-type organizations or soft money to political or presidential candidates. The one area where we do provide funding is our membership in the Democratic Governors Association (DGA) and the Republican Governors Association (RGA).  The Corporation intends to disclose any future soft money contributions.

Governor’s Associations

We support the DGA and RGA as a result of having operations in all fifty states. In over half the states in which we operate, we employ from a few thousand to over twenty thousand people.  We do not consult with the DGA or RGA regarding the expenditures 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 2011

Contributing to Public Policy Debates

Lockheed Martin contributes to public policy debates by participating in trade and industry associations. A portion of the dues we pay is non-deductible under Section 162(e)(1) of the Internal Revenue Code, which treats expenses related to lobbying as non-deductible. The following are those trade associations to which Lockheed Martin paid dues of $50,000 or more in 2011 (and the portion of our dues which was non-deductible expressed in ranges of $25,000): Aerospace Industries Association (nondeductible portion less than $75,000), National Association of Manufacturers (nondeductible portion less than $75,000), U.S. Chamber of Commerce (nondeductible portion less than $50,000), TechAmerica (nondeductible portion less than $25,000), and Telecommunications Industry Association (nondeductible portion less than $25,000). We believe that the non-deductible portion of our dues is for trade association lobbying.

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.