Signed in September 2024, and calling itself FY25: the fiscal year starts in October
A Defense Department contract of about $2.95 billion. It began on 12 September 2024 yet its description names fiscal year 2025, because the federal fiscal year opens on 1 October.
Contract key facts
- RecipientLockheed Martin
- Contract value$2,952,647,372 (≈$2.95B)
- BranchDefense-wide
- Awarding agencyDepartment of Defense
- Awarding sub-agencyDefense Contract Management Agency
- Award typeDEFINITIVE CONTRACT
- Period of performance2024-09-12 〜 2030-09-30
- Contract ID (PIID)N0003024C0100
Contract scope (original)
FY25 TRIDENT PRODUCTION AND DEPLOYED SYSTEMS SUPPORT
Key points
- About $2.95 billion, running from 12 September 2024 to 30 September 2030.
- The description names FY25; because the U.S. fiscal year opens on 1 October 2024, that is consistent.
- Of the 208 Defense Department contracts this site holds as of 2026-09-06, 25 carry an FY marker in the description.
- The outlay field reads zero, so no payment against the obligation appears in the record.
1The year in the name is not the year it began
The previous article showed endings clustering on 30 September, and the fiscal year explains why. This contract is a case where that calendar reaches into the name itself.
A contract signed in September 2024 can be named for fiscal 2025 because the fiscal year begins about three months ahead of the calendar year. The start date falls 19 days before 1 October 2024, the first day of FY2025.
2FY appears in 25 records
A description that names a fiscal year usually signals which year of appropriations is buying the goods. A record with the year in its name is declaring which budget it moves on. For the other 183 records, that link sits outside the data.
3The ending is a year boundary too
The contract closes on 30 September 2030. It starts just before a fiscal year and ends on the last day of one. Six years of work are written to fit the ruled lines of the budget calendar. The outlay field still reads zero, so no payment against the roughly $2.95 billion obligated appears in the record.
The next article looks at a contract that began on a day that comes round once every four years.
Why it matters
Any tally by year has to settle first on calendar years or fiscal years. Because the U.S. fiscal year opens on 1 October of the previous year, the same contract falls in different years depending on the choice.
FAQ
Is "FY25" on a 2024 contract a typographical error?
Does the fiscal year in the description match the appropriation being spent?
Why is the outlay figure still zero?
Sources (primary)
This article is an independent organization based on the U.S. official spending data below. Verify the exact, latest details with the official source.
- USAspending (award details)
- Contract ID (PIID)：N0003024C0100