10-Q Filing

NORTHROP GRUMMAN CORP /DE/ CIK: 1133421 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001133421-22-000013`
Period End Date	20220331
Filing Date	20220428
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	noc-20220331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 87 Income Statement 40 Cash Flow Statement 60 Stockholders Equity 14

Balance Sheet 87 line items

Line Item	Tag	Value	Unit	Period
Accumulated Depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$6.96B	USD	Point-in-time
Accumulated Depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$6.82B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.52B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.53B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.17B	USD	Point-in-time
Long-term Debt, Current Maturities	`LongTermDebtCurrent`	$6.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.91B	USD	Point-in-time
Long-term Debt, Current Maturities	`LongTermDebtCurrent`	$7.00M	USD	Point-in-time
Preferred Stock, Par Value	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.71B	USD	Point-in-time
Preferred Stock, Par Value	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.47B	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Unbilled receivables, net	`ContractWithCustomerAssetNetCurrent`	$5.49B	USD	Point-in-time
Unbilled receivables, net	`ContractWithCustomerAssetNetCurrent`	$6.12B	USD	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	`InventoryNetOfAllowancesCustomerAdvancesAndProgressBillings`	$838.00M	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventoried costs, net	`InventoryNetOfAllowancesCustomerAdvancesAndProgressBillings`	$811.00M	USD	Point-in-time
Prepaid expenses and other current assets	`OtherAssetsCurrent`	$1.13B	USD	Point-in-time
Prepaid expenses and other current assets	`OtherAssetsCurrent`	$713.00M	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$11.56B	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$12.43B	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 $6,961 for 2022 and $6,819 for 2021	`PropertyPlantAndEquipmentNet`	$7.89B	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $6,961 for 2022 and $6,819 for 2021	`PropertyPlantAndEquipmentNet`	$8.02B	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$1.66B	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	156.28M	shares	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$1.70B	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	155.58M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	155.58M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	156.28M	shares	Point-in-time
Goodwill	`Goodwill`	$17.52B	USD	Point-in-time
Goodwill	`Goodwill`	$17.52B	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$533.00M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$578.00M	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$220.00M	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$200.00M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$2.35B	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$2.31B	USD	Point-in-time
Total assets	`Assets`	$42.58B	USD	Point-in-time
Total assets	`Assets`	$41.90B	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$2.20B	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$2.05B	USD	Point-in-time
Accrued employee compensation	`EmployeeRelatedLiabilitiesCurrent`	$1.99B	USD	Point-in-time
Accrued employee compensation	`EmployeeRelatedLiabilitiesCurrent`	$1.53B	USD	Point-in-time
Advance payments and billings in excess of costs incurred	`ContractWithCustomerLiabilityCurrent`	$3.03B	USD	Point-in-time
Advance payments and billings in excess of costs incurred	`ContractWithCustomerLiabilityCurrent`	$2.88B	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$2.31B	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$2.39B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.85B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$9.53B	USD	Point-in-time
Long-term debt, net of current portion of $7 for 2022 and $6 for 2021	`LongTermDebtNoncurrent`	$12.82B	USD	Point-in-time
Long-term debt, net of current portion of $7 for 2022 and $6 for 2021	`LongTermDebtNoncurrent`	$12.78B	USD	Point-in-time
Pension and other postretirement benefit plan liabilities	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$2.98B	USD	Point-in-time
Pension and other postretirement benefit plan liabilities	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$3.27B	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$1.59B	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$1.66B	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxAndOtherLiabilitiesNoncurrent`	$310.00M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxAndOtherLiabilitiesNoncurrent`	$490.00M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$2.00B	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$1.99B	USD	Point-in-time
Total liabilities	`Liabilities`	$29.65B	USD	Point-in-time
Total liabilities	`Liabilities`	$28.62B	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: 2022155,581,611 and 2021156,284,423	`CommonStockValue`	$156.00M	USD	Point-in-time
Common stock, $1 par value; 800,000,000 shares authorized; issued and outstanding: 2022155,581,611 and 2021156,284,423	`CommonStockValue`	$156.00M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapitalCommonStock`	-	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapitalCommonStock`	-	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$12.91B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$13.28B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-146.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-143.00M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$13.29B	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$12.93B	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$10.53B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$42.58B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$41.90B	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Sales	`Revenues`	$9.16B	USD	1 Quarter
Sales	`Revenues`	$8.80B	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$976.00M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$898.00M	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$8.31B	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$7.90B	USD	1 Quarter
Gain on sale of business	`GainLossOnSaleOfBusiness`	$1.98B	USD	1 Quarter
Gain on sale of business	`GainLossOnSaleOfBusiness`	-	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$897.00M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$2.82B	USD	1 Quarter
Interest expense	`InterestAndDebtExpense`	$155.00M	USD	1 Quarter
Interest expense	`InterestAndDebtExpense`	$133.00M	USD	1 Quarter
Non-operating FAS pension benefit	`NetFASnonservicePensionBenefitExpense`	$367.00M	USD	1 Quarter
Non-operating FAS pension benefit	`NetFASnonservicePensionBenefitExpense`	$376.00M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$4.00M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-18.00M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.14B	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.02B	USD	1 Quarter
Federal and foreign income tax expense	`IncomeTaxExpenseBenefit`	$189.00M	USD	1 Quarter
Federal and foreign income tax expense	`IncomeTaxExpenseBenefit`	$821.00M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$955.00M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$2.19B	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$6.12	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$13.46	USD	1 Quarter
Weighted-average common shares outstanding, in millions	`WeightedAverageNumberOfSharesOutstandingBasic`	163.10M	shares	1 Quarter
Weighted-average common shares outstanding, in millions	`WeightedAverageNumberOfSharesOutstandingBasic`	156.00M	shares	1 Quarter
Diluted earnings per share	`EarningsPerShareDiluted`	$13.43	USD	1 Quarter
Diluted earnings per share	`EarningsPerShareDiluted`	$6.10	USD	1 Quarter
Weighted-average diluted shares outstanding, in millions	`WeightedAverageNumberOfDilutedSharesOutstanding`	163.50M	shares	1 Quarter
Weighted-average diluted shares outstanding, in millions	`WeightedAverageNumberOfDilutedSharesOutstanding`	156.60M	shares	1 Quarter
Net earnings (from above)	`NetIncomeLoss`	$955.00M	USD	1 Quarter
Net earnings (from above)	`NetIncomeLoss`	$2.19B	USD	1 Quarter
Change in unamortized prior service credit	`OtherComprehensiveIncomeLossForeignCurrencyTranslationandTranslationAdjustmentandOtherNetofTax`	$-1.00M	USD	1 Quarter
Change in unamortized prior service credit	`OtherComprehensiveIncomeLossForeignCurrencyTranslationandTranslationAdjustmentandOtherNetofTax`	$-2.00M	USD	1 Quarter
Change in cumulative translation adjustment and other, net	`OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax`	$2.00M	USD	1 Quarter
Change in cumulative translation adjustment and other, net	`OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax`	$1.00M	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-3.00M	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-3.00M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$952.00M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$2.19B	USD	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$955.00M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$2.19B	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$294.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$303.00M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$18.00M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$18.00M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-201.00M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$1.00M	USD	1 Quarter
Gain on sale of business	`GainLossOnSaleOfBusiness`	$1.98B	USD	1 Quarter
Gain on sale of business	`GainLossOnSaleOfBusiness`	-	USD	1 Quarter
Net periodic pension and OPB income	`DefinedBenefitPlanNetPeriodicBenefitCost`	$-272.00M	USD	1 Quarter
Net periodic pension and OPB income	`DefinedBenefitPlanNetPeriodicBenefitCost`	$-298.00M	USD	1 Quarter
Pension and OPB contributions	`PensionAndOtherPostretirementBenefitContributions`	$-38.00M	USD	1 Quarter
Pension and OPB contributions	`PensionAndOtherPostretirementBenefitContributions`	$-36.00M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$253.00M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$246.00M	USD	1 Quarter
Unbilled receivables, net	`IncreaseDecreaseInContractWithCustomerAsset`	$357.00M	USD	1 Quarter
Unbilled receivables, net	`IncreaseDecreaseInContractWithCustomerAsset`	$626.00M	USD	1 Quarter
Inventoried costs, net	`IncreaseDecreaseInInventories`	$27.00M	USD	1 Quarter
Inventoried costs, net	`IncreaseDecreaseInInventories`	$101.00M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-16.00M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$38.00M	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-732.00M	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-589.00M	USD	1 Quarter
Income taxes payable, net	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$361.00M	USD	1 Quarter
Income taxes payable, net	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$1.03B	USD	1 Quarter
Other operating activities, net	`OtherNoncashIncomeExpense`	$-25.00M	USD	1 Quarter
Other operating activities, net	`OtherNoncashIncomeExpense`	$-26.00M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-488.00M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-66.00M	USD	1 Quarter
Divestiture of IT services business	`ProceedsFromDivestitureOfBusinesses`	$3.40B	USD	1 Quarter
Divestiture of IT services business	`ProceedsFromDivestitureOfBusinesses`	-	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$244.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$205.00M	USD	1 Quarter
Other investing activities, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-1.00M	USD	1 Quarter
Other investing activities, net	`PaymentsForProceedsFromOtherInvestingActivities`	$5.00M	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$3.20B	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-249.00M	USD	1 Quarter
Payments of long-term debt	`RepaymentsOfLongTermDebt`	$2.20B	USD	1 Quarter
Payments of long-term debt	`RepaymentsOfLongTermDebt`	-	USD	1 Quarter
Common stock repurchases	`PaymentsForRepurchaseOfCommonStock`	$318.00M	USD	1 Quarter
Common stock repurchases	`PaymentsForRepurchaseOfCommonStock`	$2.00B	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$238.00M	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$251.00M	USD	1 Quarter
Payments of employee taxes withheld from share-based awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$48.00M	USD	1 Quarter
Payments of employee taxes withheld from share-based awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$30.00M	USD	1 Quarter
Other financing activities, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-52.00M	USD	1 Quarter
Other financing activities, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-2.00M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.52B	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-619.00M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-1.39B	USD	1 Quarter
Decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-1.36B	USD	1 Quarter
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$3.52B	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$3.53B	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$2.17B	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$4.91B	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.52B	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.53B	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.17B	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.91B	USD	Point-in-time

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning of period	`StockholdersEquity`	$13.29B	USD	Point-in-time
Beginning of period	`StockholdersEquity`	$12.93B	USD	Point-in-time
Beginning of period	`StockholdersEquity`	$10.53B	USD	Point-in-time
Net earnings	`NetIncomeLoss`	$955.00M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$2.19B	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-3.00M	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-3.00M	USD	1 Quarter
End of period	`StockholdersEquity`	$13.29B	USD	Point-in-time
End of period	`StockholdersEquity`	$12.93B	USD	Point-in-time
End of period	`StockholdersEquity`	$10.53B	USD	Point-in-time
Cash dividends declared per share	`CommonStockDividendsPerShareDeclared`	$1.57	USD	Point-in-time
Cash dividends declared per share	`CommonStockDividendsPerShareDeclared`	$1.57	USD	1 Quarter
Cash dividends declared per share	`CommonStockDividendsPerShareDeclared`	$1.45	USD	1 Quarter
Cash dividends declared per share	`CommonStockDividendsPerShareDeclared`	$1.45	USD	Point-in-time

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