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2014 Annual Report

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2014 Annual Report 2014 ANNUAL REPORT IDEAS POWERING FREEDOM (1) $1,800 Net Sales Adjusted EBITDAP $1,597.4 $1,600 $174.2 $1,383.1 $180 16% $1,400 $155.6 $160 15% $1,200 $140 14% $994.9 $115.4 $1,000 $918.1 $120 $110.7 $110.9 $857.9 13% $100 $800 12% $80 $600 11% $60 10% $400 $40 $20 9% $200 $0 8% $0 2010 2011 2012 2013 2014 2010 2011 2012 2013 2014 Adjusted EBITDAP Adjusted EBITDAP Margin Total Contract Backlog Funded Backlog $3,250 $3,055 $2,500 $3,000 $2,229 $2,750 $2,523 $2,500 $2,000 $2,250 $1,664 $2,000 $1,500 $1,750 $1,526 $1,377 $1,422 $1,500 $1,018 $1,250 $1,000 $902 $804 $1,000 $750 $500 $500 $250 $0 $0 2010 2011 2012 2013 2014 2010 2011 2012 2013 2014 Cash and Cash Equivalents (2) Net Debt (3) $550 $516.3 $501.6 $500 $300 $450 $265.9 $250 $400 $208.2 $350 $197.6 $200 $188.0 $300 $162.1 $250 $150 $200 $188.5 $100 $150 $138.4 $100 $86.6 $50 $50 $0 $0 2010 2011 2012 2013 2014 2010 2011 2012 2013 2014 Notes: (1) Non-GAAP Measure. The Company defines Adjusted EBITDAP as GAAP income before income taxes adjusted by interest expense, interest income, depreciation and amortization, retirement benefit plan costs and unusual items. (2) Includes cash and cash equivalents, restricted cash and marketable securities. (3) Non-GAAP Measure. Defined as debt principal less cash and marketable securities. Cover (main image): Delta IV Heavy launch vehicle lifts off carrying the Orion spacecraft on its first voyage into space. Photoourtesy c of United Launch Alliance. 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