10-Q Filing

NORTHROP GRUMMAN CORP /DE/ CIK: 1133421 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001133421-20-000019`
Period End Date	20200331
Filing Date	20200429
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	noc-3312020x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 85 Income Statement 36 Cash Flow Statement 58 Stockholders Equity 14

Balance Sheet 85 line items

Line Item	Tag	Value	Unit	Period
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$5.85B	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$5.95B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.58B	USD	Point-in-time
Long-term debt, current portion	`LongTermDebtCurrent`	$1.79B	USD	Point-in-time
Long-term debt, current portion	`LongTermDebtCurrent`	$1.11B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.28B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.25B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$848.00M	USD	Point-in-time
Preferred Stock, par value	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.33B	USD	Point-in-time
Preferred Stock, par value	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$2.14B	USD	Point-in-time
Unbilled receivables, net	`ContractWithCustomerAssetNetCurrent`	$5.92B	USD	Point-in-time
Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Unbilled receivables, net	`ContractWithCustomerAssetNetCurrent`	$5.33B	USD	Point-in-time
Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Inventoried costs, net	`InventoryNet`	$783.00M	USD	Point-in-time
Inventoried costs, net	`InventoryNet`	$785.00M	USD	Point-in-time
Preferred Stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred Stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`OtherAssetsCurrent`	$1.01B	USD	Point-in-time
Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`OtherAssetsCurrent`	$997.00M	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`	$10.69B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$13.13B	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $5,952 for 2020 and $5,850 for 2019	`PropertyPlantAndEquipmentNet`	$6.91B	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $5,952 for 2020 and $5,850 for 2019	`PropertyPlantAndEquipmentNet`	$6.96B	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
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$1.47B	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	167.85M	shares	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$1.51B	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	167.10M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	167.85M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	167.10M	shares	Point-in-time
Goodwill	`Goodwill`	$18.70B	USD	Point-in-time
Goodwill	`Goodwill`	$18.71B	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.04B	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$974.00M	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$355.00M	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$508.00M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$1.62B	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$1.73B	USD	Point-in-time
Total assets	`Assets`	$41.09B	USD	Point-in-time
Total assets	`Assets`	$43.20B	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$2.23B	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$2.07B	USD	Point-in-time
Accrued employee compensation	`EmployeeRelatedLiabilitiesCurrent`	$1.47B	USD	Point-in-time
Accrued employee compensation	`EmployeeRelatedLiabilitiesCurrent`	$1.86B	USD	Point-in-time
Advance payments and billings in excess of costs incurred	`ContractWithCustomerLiabilityCurrent`	$2.03B	USD	Point-in-time
Advance payments and billings in excess of costs incurred	`ContractWithCustomerLiabilityCurrent`	$2.24B	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$3.11B	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$4.61B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$9.43B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$10.18B	USD	Point-in-time
Long-term debt, net of current portion of $1,790 for 2020 and $1,109 for 2019	`LongTermDebtNoncurrent`	$14.30B	USD	Point-in-time
Long-term debt, net of current portion of $1,790 for 2020 and $1,109 for 2019	`LongTermDebtNoncurrent`	$12.77B	USD	Point-in-time
Pension and other postretirement benefit plan liabilities	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$6.78B	USD	Point-in-time
Pension and other postretirement benefit plan liabilities	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$6.98B	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$1.28B	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$1.31B	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$1.61B	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$1.78B	USD	Point-in-time
Total liabilities	`Liabilities`	$34.14B	USD	Point-in-time
Total liabilities	`Liabilities`	$32.27B	USD	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 6)	`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: 2020167,099,297 and 2019167,848,424	`CommonStockValue`	$168.00M	USD	Point-in-time
Common stock, $1 par value; 800,000,000 shares authorized; issued and outstanding: 2020167,099,297 and 2019167,848,424	`CommonStockValue`	$167.00M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapitalCommonStock`	-	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapitalCommonStock`	-	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$9.01B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$8.75B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-116.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-97.00M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$8.82B	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$9.06B	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$8.74B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$41.09B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$43.20B	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Sales	`Revenues`	$8.19B	USD	1 Quarter
Sales	`Revenues`	$8.62B	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$788.00M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$760.00M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$936.00M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$934.00M	USD	1 Quarter
Interest expense	`InterestAndDebtExpense`	$125.00M	USD	1 Quarter
Interest expense	`InterestAndDebtExpense`	$138.00M	USD	1 Quarter
FAS (non-service) pension benefit	`NetFASnonservicePensionBenefitExpense`	$200.00M	USD	1 Quarter
FAS (non-service) pension benefit	`NetFASnonservicePensionBenefitExpense`	$302.00M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-58.00M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$36.00M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.03B	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.05B	USD	1 Quarter
Federal and foreign income tax expense	`IncomeTaxExpenseBenefit`	$171.00M	USD	1 Quarter
Federal and foreign income tax expense	`IncomeTaxExpenseBenefit`	$185.00M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$868.00M	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`	$5.18	USD	1 Quarter
Weighted-average common shares outstanding, in millions	`WeightedAverageNumberOfSharesOutstandingBasic`	170.00M	shares	1 Quarter
Weighted-average common shares outstanding, in millions	`WeightedAverageNumberOfSharesOutstandingBasic`	167.70M	shares	1 Quarter
Diluted earnings per share	`EarningsPerShareDiluted`	$5.06	USD	1 Quarter
Diluted earnings per share	`EarningsPerShareDiluted`	$5.15	USD	1 Quarter
Weighted-average diluted shares outstanding, in millions	`WeightedAverageNumberOfDilutedSharesOutstanding`	170.70M	shares	1 Quarter
Weighted-average diluted shares outstanding, in millions	`WeightedAverageNumberOfDilutedSharesOutstanding`	168.40M	shares	1 Quarter
Net earnings (from above)	`NetIncomeLoss`	$868.00M	USD	1 Quarter
Net earnings (from above)	`NetIncomeLoss`	$863.00M	USD	1 Quarter
Change in unamortized prior service credit, net of tax	`OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax`	$-10.00M	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`	$4.00M	USD	1 Quarter
Change in cumulative translation adjustment and other, net	`OtherComprehensiveIncomeLossForeignCurrencyTranslationandTranslationAdjustmentandOtherNetofTax`	$-9.00M	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-19.00M	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-7.00M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$849.00M	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`	$868.00M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$863.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$302.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$297.00M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$18.00M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$26.00M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$156.00M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$33.00M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$718.00M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$810.00M	USD	1 Quarter
Unbilled receivables, net	`IncreaseDecreaseInContractWithCustomerAsset`	$759.00M	USD	1 Quarter
Unbilled receivables, net	`IncreaseDecreaseInContractWithCustomerAsset`	$584.00M	USD	1 Quarter
Inventoried costs, net	`IncreaseDecreaseInInventories`	$2.00M	USD	1 Quarter
Inventoried costs, net	`IncreaseDecreaseInInventories`	$124.00M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-56.00M	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`	$-833.00M	USD	1 Quarter
Income taxes payable, net	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$140.00M	USD	1 Quarter
Income taxes payable, net	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$10.00M	USD	1 Quarter
Retiree benefits	`IncreaseDecreaseInPensionAndPostretirementObligations`	$-142.00M	USD	1 Quarter
Retiree benefits	`IncreaseDecreaseInPensionAndPostretirementObligations`	$-237.00M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$31.00M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$-68.00M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-993.00M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-913.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$272.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$284.00M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-4.00M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-2.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-270.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-280.00M	USD	1 Quarter
Net proceeds from issuance of long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	1 Quarter
Net proceeds from issuance of long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$2.24B	USD	1 Quarter
Payments to credit facilities	`RepaymentsOfLinesOfCredit`	$20.00M	USD	1 Quarter
Payments to credit facilities	`RepaymentsOfLinesOfCredit`	$7.00M	USD	1 Quarter
Net borrowings on commercial paper	`ProceedsFromRepaymentsOfCommercialPaper`	$814.00M	USD	1 Quarter
Net borrowings on commercial paper	`ProceedsFromRepaymentsOfCommercialPaper`	$744.00M	USD	1 Quarter
Common stock repurchases	`PaymentsForRepurchaseOfCommonStock`	$60.00M	USD	1 Quarter
Common stock repurchases	`PaymentsForRepurchaseOfCommonStock`	$344.00M	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$227.00M	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$211.00M	USD	1 Quarter
Payments of employee taxes withheld from share-based awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$63.00M	USD	1 Quarter
Payments of employee taxes withheld from share-based awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$61.00M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	-	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-46.00M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.30B	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$462.00M	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-731.00M	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.03B	USD	1 Quarter
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$1.58B	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$3.28B	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$2.25B	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$848.00M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.58B	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.28B	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.25B	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$848.00M	USD	Point-in-time

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning of period	`StockholdersEquity`	$8.82B	USD	Point-in-time
Beginning of period	`StockholdersEquity`	$9.06B	USD	Point-in-time
Beginning of period	`StockholdersEquity`	$8.74B	USD	Point-in-time
Net earnings	`NetIncomeLoss`	$868.00M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$863.00M	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-19.00M	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-7.00M	USD	1 Quarter
End of period	`StockholdersEquity`	$8.82B	USD	Point-in-time
End of period	`StockholdersEquity`	$9.06B	USD	Point-in-time
End of period	`StockholdersEquity`	$8.74B	USD	Point-in-time
Cash dividends declared per share	`CommonStockDividendsPerShareDeclared`	$1.32	USD	Point-in-time
Cash dividends declared per share	`CommonStockDividendsPerShareDeclared`	$1.20	USD	1 Quarter
Cash dividends declared per share	`CommonStockDividendsPerShareDeclared`	$1.32	USD	1 Quarter
Cash dividends declared per share	`CommonStockDividendsPerShareDeclared`	$1.20	USD	Point-in-time

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