redit Risk Analysis and Interpretation continued from prior page 2016 2015 Year Ended December 31 (in millions)-continued Investing activities Capital expenditures . . . Acquisitions of businesses and investments in affiliates........ (1,063) (939) (9,003) Other, net.. ....(985) (9,734) Net cash used for investing activities... Financing activities Special cash payment from divestiture of IS&GS business . . . . 1,800 106 . . . . . . . .. (2,096) (3,071) 174 (2,048) (1,932) 9,101 Proceeds from stock option exercises. . . .. . . . . . . Dividends paid.. Proceeds from the issuance of long-term debt. . . . . . . Repayments of long-term debt Proceeds from borrowings under revolving credit facilities . . . . . . . . . . . . . . . . . Repayments of borrowings under revolving credit facilities. . . . . . . . . . Other, net . (952) 6,000 (6,000) Net cash (used for) provided by financing activities................ Net change in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year (3,457) 4,277 (356) 1,090 1,446 747 Required Martin's current ratio and quick ratio for 2015 and 2016. Comment on any ob- served trends pute total liabilities-to-equity ratios and total debt-to-equity ratios for 2015 and 2016. Comment on any trends you observe. flow to total debt ratios for 2015 and 2016. Comment about the company's ability to meet its debt obligations? interest earned ratio, cash from operations to total debt ratio, and free operating cash about the company's credit risk. Do you have any concem mpute times on any trends you obse rve d. Summarize your findings in a conclusion about the company's c P4-30.4 Assigning a Long-Term Debt Rating Using Financial Ratios he Lockheed Martin 2016 financial statements, from P4-29 to answer the following requirements Required a. Compute the following seven Moody's metrics for Lockheed Martin. See A of Moody's ratios. Information in the financial statements and footnotes also tion and depreciation expense for 2016 was $468 million and $747 million deferred tax liabilities were $1.142 million for 2016. ppendix 4A for definitions reveal that amortiza respectively. Noncurrent 1. EBITA to average assets 2. Operating margin 3. EBITA margin 4. EBITA interest coverage 5. Debt to EBITDA 6. Debt to book capitalization 7. Retained cash flow to net debt b. Use your computations from part a, along with measures from Exhibit 4.7, to estimat a credit ratin for Lockheed Martin