Company: NOC
Filing Date: 2025-04-22
Form Type: 10-Q
Source: 0001133421-25-000023
Chunk: 29

Company: NORTHROP GRUMMAN CORP /DE/
Filing Date: 2025-04-22
Form: 10-Q
Item: Part I, Item 1
Chunk 29
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35 $35 Maximum aggregate payout amount198 199 CUs typically vest and settle in cash on the third anniversary of the grant date, while CPUs generally vest and pay out in cash based on the achievement of certain performance metrics over a three-year period.

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Table of ContentsNORTHROP GRUMMAN CORPORATION                        

10.    SEGMENT INFORMATION

The following table presents sales, operating costs and expenses, and operating income by segment:Three Months Ended March 31$ in millions20252024Aeronautics SystemsSales$2,814 $3,044 Operating costs and expenses:Product2,358 2,059 Service601 649 Intersegment38 30 Aeronautics Systems operating (loss) income(183)306 Defense SystemsSales1,805 1,737 Operating costs and expenses:Product1,262 1,200 Service324 345 Intersegment40 36 Defense Systems operating income179 156 Mission SystemsSales2,807 2,659 Operating costs and expenses:Product1,730 1,605 Service434 446 Intersegment282 230 Mission Systems operating income361 378 Space SystemsSales2,568 3,149 Operating costs and expenses:Product1,829 2,375 Service362 350 Intersegment94 94 Space Systems operating income283 330 Intersegment profit eliminations(72)(66)Total segment operating income568 1,104 FAS/CAS operating adjustment63 6 Unallocated corporate expense(58)(39)Total operating income$573 $1,071 Other (expense) incomeInterest expense(156)(146)Non-operating FAS pension benefit130 168 Other, net31 38 Earnings before income taxes$578 $1,131 

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Table of ContentsNORTHROP GRUMMAN CORPORATION                        

FAS/CAS Operating AdjustmentFor financial statement purposes, we account for our employee pension plans in accordance with FAS. However, the cost of these plans is charged to our contracts in accordance with applicable Federal Acquisition Regulation (FAR) and CAS requirements. The FAS/CAS operating adjustment reflects the difference between CAS pension expense included as cost in segment operating income and the service cost component of FAS expense included in total operating income.Unallocated Corporate ExpenseUnallocated corporate expense includes the portion of corporate costs not considered allowable or allocable