10-Q Filing

NORTHROP GRUMMAN CORP /DE/ CIK: 1133421 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001133421-19-000021`
Period End Date	20190331
Filing Date	20190424
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	noc-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 85 Income Statement 36 Cash Flow Statement 58 Stockholders Equity 15

Balance Sheet 85 line items

Line Item	Tag	Value	Unit	Period
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$5.49B	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$5.37B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$755.00M	USD	Point-in-time
Long-term Debt, Current Maturities	`LongTermDebtCurrent`	$523.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.58B	USD	Point-in-time
Long-term Debt, Current Maturities	`LongTermDebtCurrent`	$517.00M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$2.17B	USD	Point-in-time
Preferred Stock, par value	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.45B	USD	Point-in-time
Preferred Stock, par value	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Unbilled receivables, net	`UnbilledReceivablesCurrent`	$5.79B	USD	Point-in-time
Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Unbilled receivables, net	`UnbilledReceivablesCurrent`	$5.03B	USD	Point-in-time
Preferred Stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventoried costs, net	`InventoryNet`	$778.00M	USD	Point-in-time
Preferred Stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventoried costs, net	`InventoryNet`	$654.00M	USD	Point-in-time
Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`OtherAssetsCurrent`	$973.00M	USD	Point-in-time
Prepaid expenses and other current assets	`OtherAssetsCurrent`	$959.00M	USD	Point-in-time
Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	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`	$9.68B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$10.44B	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	800.00M	shares	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	800.00M	shares	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $5,493 for 2019 and $5,369 for 2018	`PropertyPlantAndEquipmentNet`	$6.42B	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $5,493 for 2019 and $5,369 for 2018	`PropertyPlantAndEquipmentNet`	$6.37B	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	170.61M	shares	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$1.28B	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	169.87M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	170.61M	shares	Point-in-time
Goodwill	`Goodwill`	$18.70B	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	169.87M	shares	Point-in-time
Goodwill	`Goodwill`	$18.67B	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.29B	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.37B	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$84.00M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$94.00M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$1.46B	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$1.53B	USD	Point-in-time
Total assets	`Assets`	$37.65B	USD	Point-in-time
Total assets	`Assets`	$39.75B	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$1.93B	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$2.18B	USD	Point-in-time
Accrued employee compensation	`EmployeeRelatedLiabilitiesCurrent`	$1.68B	USD	Point-in-time
Accrued employee compensation	`EmployeeRelatedLiabilitiesCurrent`	$1.40B	USD	Point-in-time
Advance payments and billings in excess of costs incurred	`CustomerAdvancesCurrent`	$1.97B	USD	Point-in-time
Advance payments and billings in excess of costs incurred	`CustomerAdvancesCurrent`	$1.92B	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$3.52B	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$2.50B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.82B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.27B	USD	Point-in-time
Long-term debt, net of current portion of $523 for 2019 and $517 for 2018	`LongTermDebtAndCapitalLeaseObligations`	$13.86B	USD	Point-in-time
Long-term debt, net of current portion of $523 for 2019 and $517 for 2018	`LongTermDebtAndCapitalLeaseObligations`	$13.88B	USD	Point-in-time
Pension and other postretirement benefit plan liabilities	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$5.65B	USD	Point-in-time
Pension and other postretirement benefit plan liabilities	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$5.75B	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$1.10B	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$108.00M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$133.00M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$1.45B	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$1.45B	USD	Point-in-time
Total liabilities	`Liabilities`	$31.01B	USD	Point-in-time
Total liabilities	`Liabilities`	$29.47B	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: 2019169,873,750 and 2018170,607,336	`CommonStockValue`	$171.00M	USD	Point-in-time
Common stock, $1 par value; 800,000,000 shares authorized; issued and outstanding: 2019169,873,750 and 2018170,607,336	`CommonStockValue`	$170.00M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapitalCommonStock`	-	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapitalCommonStock`	-	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$8.07B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$8.63B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-59.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-52.00M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$8.19B	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$8.74B	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$7.68B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$39.75B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$37.65B	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Sales	`Revenues`	$6.74B	USD	1 Quarter
Sales	`Revenues`	$8.19B	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$711.00M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$760.00M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$848.00M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$936.00M	USD	1 Quarter
Interest expense	`InterestAndDebtExpense`	$138.00M	USD	1 Quarter
Interest expense	`InterestAndDebtExpense`	$143.00M	USD	1 Quarter
Net FAS (non-service) pension benefit	`NetFASnonservicePensionBenefitExpense`	$200.00M	USD	1 Quarter
Net FAS (non-service) pension benefit	`NetFASnonservicePensionBenefitExpense`	$254.00M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$40.00M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$36.00M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$999.00M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.03B	USD	1 Quarter
Federal and foreign income tax expense	`IncomeTaxExpenseBenefit`	$171.00M	USD	1 Quarter
Federal and foreign income tax expense	`IncomeTaxExpenseBenefit`	$159.00M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$840.00M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$863.00M	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$5.08	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$4.82	USD	1 Quarter
Weighted-average common shares outstanding, in millions	`WeightedAverageNumberOfSharesOutstandingBasic`	174.30M	shares	1 Quarter
Weighted-average common shares outstanding, in millions	`WeightedAverageNumberOfSharesOutstandingBasic`	170.00M	shares	1 Quarter
Diluted earnings per share	`EarningsPerShareDiluted`	$4.79	USD	1 Quarter
Diluted earnings per share	`EarningsPerShareDiluted`	$5.06	USD	1 Quarter
Weighted-average diluted shares outstanding, in millions	`WeightedAverageNumberOfDilutedSharesOutstanding`	175.40M	shares	1 Quarter
Weighted-average diluted shares outstanding, in millions	`WeightedAverageNumberOfDilutedSharesOutstanding`	170.70M	shares	1 Quarter
Net earnings (from above)	`NetIncomeLoss`	$840.00M	USD	1 Quarter
Net earnings (from above)	`NetIncomeLoss`	$863.00M	USD	1 Quarter
Change in unamortized prior service credit, net of tax	`OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax`	$-15.00M	USD	1 Quarter
Change in unamortized prior service credit, net of tax	`OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax`	$-11.00M	USD	1 Quarter
Change in cumulative translation adjustment and other, net	`OtherComprehensiveIncomeLossForeignCurrencyTranslationandTranslationAdjustmentandOtherNetofTax`	$-3.00M	USD	1 Quarter
Change in cumulative translation adjustment and other, net	`OtherComprehensiveIncomeLossForeignCurrencyTranslationandTranslationAdjustmentandOtherNetofTax`	$4.00M	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-7.00M	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-18.00M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$822.00M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$856.00M	USD	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$840.00M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$863.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$234.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$122.00M	USD	1 Quarter
Non-cash lease expense	`NoncashLeaseExpense`	$68.00M	USD	1 Quarter
Non-cash lease expense	`NoncashLeaseExpense`	-	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$26.00M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$19.00M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-22.00M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$33.00M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$187.00M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$718.00M	USD	1 Quarter
Unbilled receivables, net	`IncreaseDecreaseInUnbilledReceivables`	$404.00M	USD	1 Quarter
Unbilled receivables, net	`IncreaseDecreaseInUnbilledReceivables`	$759.00M	USD	1 Quarter
Inventoried costs, net	`IncreaseDecreaseInInventories`	$37.00M	USD	1 Quarter
Inventoried costs, net	`IncreaseDecreaseInInventories`	$124.00M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-13.00M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$23.00M	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-480.00M	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-590.00M	USD	1 Quarter
Income taxes payable, net	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$140.00M	USD	1 Quarter
Income taxes payable, net	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$197.00M	USD	1 Quarter
Retiree benefits	`IncreaseDecreaseInPensionAndPostretirementObligations`	$-142.00M	USD	1 Quarter
Retiree benefits	`IncreaseDecreaseInPensionAndPostretirementObligations`	$-190.00M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$31.00M	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`	$-913.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$284.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$305.00M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$2.00M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-4.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-307.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-280.00M	USD	1 Quarter
Payments to credit facilities	`RepaymentsOfLinesOfCredit`	$20.00M	USD	1 Quarter
Payments to credit facilities	`RepaymentsOfLinesOfCredit`	$14.00M	USD	1 Quarter
Net borrowings on commercial paper	`ProceedsFromRepaymentsOfCommercialPaper`	-	USD	1 Quarter
Net borrowings on commercial paper	`ProceedsFromRepaymentsOfCommercialPaper`	$814.00M	USD	1 Quarter
Common stock repurchases	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Common stock repurchases	`PaymentsForRepurchaseOfCommonStock`	$60.00M	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$198.00M	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$211.00M	USD	1 Quarter
Payments of employee taxes withheld from share-based awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$79.00M	USD	1 Quarter
Payments of employee taxes withheld from share-based awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$61.00M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-21.00M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	-	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$462.00M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-312.00M	USD	1 Quarter
Decrease in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-856.00M	USD	1 Quarter
Decrease in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-731.00M	USD	1 Quarter
Cash, cash equivalents and restricted cash, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.37B	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.22B	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$848.00M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.58B	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.37B	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.22B	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$848.00M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.58B	USD	Point-in-time

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Beginning of year	`StockholdersEquity`	$8.19B	USD	Point-in-time
Beginning of year	`StockholdersEquity`	$8.74B	USD	Point-in-time
Beginning of year	`StockholdersEquity`	$7.68B	USD	Point-in-time
Net earnings	`NetIncomeLoss`	$840.00M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$863.00M	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-7.00M	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-18.00M	USD	1 Quarter
End of period	`StockholdersEquity`	$8.19B	USD	Point-in-time
End of period	`StockholdersEquity`	$8.74B	USD	Point-in-time
End of period	`StockholdersEquity`	$7.68B	USD	Point-in-time
Cash dividends declared per share	`CommonStockDividendsPerShareDeclared`	$1.20	USD	Point-in-time
Cash dividends declared per share	`CommonStockDividendsPerShareDeclared`	$1.00	USD	Point-in-time
Cash dividends declared per share	`CommonStockDividendsPerShareDeclared`	$1.20	USD	1 Quarter
Cash dividends declared per share	`CommonStockDividendsPerShareDeclared`	$1.10	USD	1 Quarter
Cash dividends declared per share	`CommonStockDividendsPerShareDeclared`	$1.10	USD	Point-in-time

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