10-Q Filing

NORTHROP GRUMMAN CORP /DE/ CIK: 1133421 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001133421-18-000012`
Period End Date	20180331
Filing Date	20180425
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	noc-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 79 Income Statement 46 Cash Flow Statement 54 Stockholders Equity 15

Balance Sheet 79 line items

Line Item	Tag	Value	Unit	Period
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$5.07B	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$5.12B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.40B	USD	Point-in-time
Long-term Debt, Current Maturities	`LongTermDebtCurrent`	$868.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.22B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.37B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.54B	USD	Point-in-time
Long-term Debt, Current Maturities	`LongTermDebtCurrent`	$867.00M	USD	Point-in-time
Preferred Stock, par value	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.24B	USD	Point-in-time
Preferred Stock, par value	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.05B	USD	Point-in-time
Unbilled receivables, net	`UnbilledReceivablesCurrent`	$3.87B	USD	Point-in-time
Unbilled receivables, net	`UnbilledReceivablesCurrent`	$3.46B	USD	Point-in-time
Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred Stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventoried costs, net	`InventoryNet`	$398.00M	USD	Point-in-time
Preferred Stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventoried costs, net	`InventoryNet`	$435.00M	USD	Point-in-time
Prepaid expenses and other current assets	`OtherAssetsCurrent`	$445.00M	USD	Point-in-time
Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`OtherAssetsCurrent`	$243.00M	USD	Point-in-time
Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$16.16B	USD	Point-in-time
Common Stock, par value	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Common Stock, par value	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$16.59B	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	800.00M	shares	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $5,119 for 2018 and $5,066 for 2017	`PropertyPlantAndEquipmentNet`	$4.22B	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	800.00M	shares	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $5,119 for 2018 and $5,066 for 2017	`PropertyPlantAndEquipmentNet`	$4.29B	USD	Point-in-time
Goodwill	`Goodwill`	$12.46B	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	174.38M	shares	Point-in-time
Goodwill	`Goodwill`	$12.46B	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	174.09M	shares	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$447.00M	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	174.38M	shares	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$474.00M	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	174.09M	shares	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$1.42B	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$1.41B	USD	Point-in-time
Total assets	`Assets`	$35.13B	USD	Point-in-time
Total assets	`Assets`	$34.80B	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$1.66B	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$1.40B	USD	Point-in-time
Accrued employee compensation	`EmployeeRelatedLiabilitiesCurrent`	$1.38B	USD	Point-in-time
Accrued employee compensation	`EmployeeRelatedLiabilitiesCurrent`	$1.20B	USD	Point-in-time
Advance payments and amounts in excess of costs incurred	`CustomerAdvancesCurrent`	$1.76B	USD	Point-in-time
Advance payments and amounts in excess of costs incurred	`CustomerAdvancesCurrent`	$1.48B	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$2.29B	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$2.34B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.09B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.42B	USD	Point-in-time
Long-term debt, net of current portion of $868 for 2018 and $867 for 2017	`LongTermDebtAndCapitalLeaseObligations`	$14.40B	USD	Point-in-time
Long-term debt, net of current portion of $868 for 2018 and $867 for 2017	`LongTermDebtAndCapitalLeaseObligations`	$14.39B	USD	Point-in-time
Pension and other post-retirement benefit plan liabilities	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$5.51B	USD	Point-in-time
Pension and other post-retirement benefit plan liabilities	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$5.36B	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$994.00M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$946.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$28.00B	USD	Point-in-time
Total liabilities	`Liabilities`	$27.11B	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $1 par value; 10,000,000 shares authorized; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $1 par value; 10,000,000 shares authorized; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $1 par value; 800,000,000 shares authorized; issued and outstanding: 2018174,382,256 and 2017174,085,619	`CommonStockValue`	$174.00M	USD	Point-in-time
Common stock, $1 par value; 800,000,000 shares authorized; issued and outstanding: 2018174,382,256 and 2017174,085,619	`CommonStockValue`	$174.00M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapitalCommonStock`	$44.00M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapitalCommonStock`	-	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$13.21B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$11.63B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-5.70B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-4.72B	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$5.67B	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$7.68B	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$7.13B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$35.13B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$34.80B	USD	Point-in-time

Income Statement 46 line items

Line Item	Tag	Value	Unit	Period
Product	`SalesRevenueGoodsNet`	$4.29B	USD	1 Quarter
Product	`SalesRevenueGoodsNet`	$4.00B	USD	1 Quarter
Service	`SalesRevenueServicesNet`	$2.41B	USD	1 Quarter
Service	`SalesRevenueServicesNet`	$2.45B	USD	1 Quarter
Total sales	`SalesRevenueNet`	$6.74B	USD	1 Quarter
Total sales	`SalesRevenueNet`	$6.41B	USD	1 Quarter
Product	`CostOfGoodsSold`	$2.98B	USD	1 Quarter
Product	`CostOfGoodsSold`	$3.27B	USD	1 Quarter
Service	`CostOfServices`	$1.91B	USD	1 Quarter
Service	`CostOfServices`	$1.87B	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$711.00M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$698.00M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$854.00M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$862.00M	USD	1 Quarter
Interest expense	`InterestAndDebtExpense`	$143.00M	USD	1 Quarter
Interest expense	`InterestAndDebtExpense`	$75.00M	USD	1 Quarter
Net FAS (non-service) Pension Benefit (Expense)	`NetFASnonservicePensionBenefitExpense`	$120.00M	USD	1 Quarter
Net FAS (non-service) Pension Benefit (Expense)	`NetFASnonservicePensionBenefitExpense`	$-18.00M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$40.00M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$19.00M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$788.00M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$871.00M	USD	1 Quarter
Federal and foreign income tax expense	`IncomeTaxExpenseBenefit`	$132.00M	USD	1 Quarter
Federal and foreign income tax expense	`IncomeTaxExpenseBenefit`	$138.00M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$650.00M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$739.00M	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$4.24	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$3.72	USD	1 Quarter
Weighted-average common shares outstanding, in millions	`WeightedAverageNumberOfSharesOutstandingBasic`	174.80M	shares	1 Quarter
Weighted-average common shares outstanding, in millions	`WeightedAverageNumberOfSharesOutstandingBasic`	174.30M	shares	1 Quarter
Diluted earnings per share	`EarningsPerShareDiluted`	$3.69	USD	1 Quarter
Diluted earnings per share	`EarningsPerShareDiluted`	$4.21	USD	1 Quarter
Weighted-average diluted shares outstanding, in millions	`WeightedAverageNumberOfDilutedSharesOutstanding`	175.40M	shares	1 Quarter
Weighted-average diluted shares outstanding, in millions	`WeightedAverageNumberOfDilutedSharesOutstanding`	176.10M	shares	1 Quarter
Net earnings (from above)	`NetIncomeLoss`	$650.00M	USD	1 Quarter
Net earnings (from above)	`NetIncomeLoss`	$739.00M	USD	1 Quarter
Change in unamortized benefit plan costs, net of tax	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-86.00M	USD	1 Quarter
Change in unamortized benefit plan costs, net of tax	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-99.00M	USD	1 Quarter
Change in cumulative translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$4.00M	USD	1 Quarter
Change in cumulative translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-2.00M	USD	1 Quarter
Other, net	`OtherComprehensiveIncomelossotheradjustmentnetoftax`	$-1.00M	USD	1 Quarter
Other, net	`OtherComprehensiveIncomelossotheradjustmentnetoftax`	$2.00M	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$105.00M	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$83.00M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$822.00M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$755.00M	USD	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$650.00M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$739.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$104.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$122.00M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$17.00M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$19.00M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-9.00M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-55.00M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$317.00M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$187.00M	USD	1 Quarter
Unbilled receivables, net	`IncreaseDecreaseInUnbilledReceivables`	$404.00M	USD	1 Quarter
Unbilled receivables, net	`IncreaseDecreaseInUnbilledReceivables`	$665.00M	USD	1 Quarter
Inventoried costs, net	`IncreaseDecreaseInInventories`	$37.00M	USD	1 Quarter
Inventoried costs, net	`IncreaseDecreaseInInventories`	$27.00M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$53.00M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-13.00M	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-357.00M	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-590.00M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$197.00M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$152.00M	USD	1 Quarter
Retiree benefits	`IncreaseDecreaseInPensionAndPostretirementObligations`	$86.00M	USD	1 Quarter
Retiree benefits	`IncreaseDecreaseInPensionAndPostretirementObligations`	$-56.00M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$20.00M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$-2.00M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-237.00M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-439.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$216.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$305.00M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$2.00M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-2.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-214.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-307.00M	USD	1 Quarter
Common stock repurchases	`PaymentsForRepurchaseOfCommonStock`	$229.00M	USD	1 Quarter
Common stock repurchases	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$166.00M	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$198.00M	USD	1 Quarter
Payments of employee taxes withheld from share-based awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$90.00M	USD	1 Quarter
Payments of employee taxes withheld from share-based awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$79.00M	USD	1 Quarter
Net (payments to) proceeds from credit facilities	`ProceedsFromRepaymentsOfLinesOfCredit`	$-14.00M	USD	1 Quarter
Net (payments to) proceeds from credit facilities	`ProceedsFromRepaymentsOfLinesOfCredit`	-	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-21.00M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	-	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-485.00M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-312.00M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.14B	USD	1 Quarter
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-856.00M	USD	1 Quarter
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$1.40B	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$11.22B	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$10.37B	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$2.54B	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.40B	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.22B	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.37B	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.54B	USD	Point-in-time

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Beginning of year	`StockholdersEquity`	$5.67B	USD	Point-in-time
Beginning of year	`StockholdersEquity`	$7.68B	USD	Point-in-time
Beginning of year	`StockholdersEquity`	$7.13B	USD	Point-in-time
Net earnings	`NetIncomeLoss`	$650.00M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$739.00M	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$105.00M	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$83.00M	USD	1 Quarter
End of period	`StockholdersEquity`	$5.67B	USD	Point-in-time
End of period	`StockholdersEquity`	$7.68B	USD	Point-in-time
End of period	`StockholdersEquity`	$7.13B	USD	Point-in-time
Cash dividends declared per share	`CommonStockDividendsPerShareDeclared`	$1.10	USD	Point-in-time
Cash dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.90	USD	1 Quarter
Cash dividends declared per share	`CommonStockDividendsPerShareDeclared`	$1.00	USD	Point-in-time
Cash dividends declared per share	`CommonStockDividendsPerShareDeclared`	$1.10	USD	1 Quarter
Cash dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.90	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.