Where does the Pentagon's money go?

Lockheed Martin Corp. was named the Defense Department's top contractor in 1999 with more than $12 billion in contract awards, according to a Pentagon report released Tuesday.

The "100 Companies Receiving the Largest Dollar Volume of Prime Contract Awards" report ranks the top companies and their subsidiaries based on the amount of money they receive in a fiscal year. The annual report, which is released by DOD's procurement office, collected statistics from the more than $118 billion in contracts the agency awarded last year.

Lockheed Martin had the highest volume of DOD contracts in 1999 with $12.7 billion, followed by Boeing Co., with $11.6 billion; Raytheon Corp., with $6.4 billion; and General Dynamics Corp., with $4.6 billion. (see chart).

In 1999, Lockheed was the number one Air Force contractor with $7.5 billion in contracts, but was listed as second for Army and Navy contracts. Boeing was the top Navy contractor with $3.7 billion in contracts and the Army awarded more than $1.7 billion in awards to its top contractor, Raytheon. Fifty-seventh ranked York International Corp. received the most logistics contracts last year, worth $214 million.

The top five companies listed in this year's report were also the top five in 1998. In fact, the only change in the top 10 listing was the addition of General Electric Corp., which ranked 13th in 1998. General Electric had $1.7 billion in DOD contracts in 1999.

For a copy of the DOD's report, click here.

Top 10 dollar volume DOD contractors in 1999:

1. Lockheed Martin $12.7 billion

2. Boeing Co. $11.6 billion

3. Raytheon Corp. $6.4 billion

4. General Dynamics Corp. $4.6 billion

5. Northrop Grumman Corp. $3.2 billion

6. United Technologies Corp. $2.4 billion

7. Litton Industries Inc. $2.1 billion

8. General Electric Company Inc. $1.7 billion

9. TRW Inc. $1.4 billion

10. Textron Inc. $1.4 billion