Company: NOC
Filing Date: 2025-07-22
Form Type: 10-Q
Source: 0001133421-25-000049
Chunk: 95

Company: NORTHROP GRUMMAN CORP /DE/
Filing Date: 2025-07-22
Form: 10-Q
Item: Part I, Item 2
Chunk 95
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 and December 31, 2024:

 June 30, 2025December 31, 2024$ in millionsFundedUnfundedTotalBacklogTotalBacklog% Change in 2025Aeronautics Systems$10,556 $12,988 $23,544 $25,202 (7)%Defense Systems8,205 18,824 27,029 26,614 2 %Mission Systems11,899 5,645 17,544 16,443 7 %Space Systems6,800 14,820 21,620 23,209 (7)%Total backlog$37,460 $52,277 $89,737 $91,468 (2)%

Second quarter and year to date 2025 net awards totaled $7.4 billion and $18.2 billion, respectively. Backlog totaled $89.7 billion and reflects a $150 million reduction of backlog in connection with the training services divestiture. Significant second quarter new awards include $1.8 billion for restricted programs (primarily at Mission Systems, Aeronautics Systems and Space Systems), $0.5 billion for F-35 (primarily at Mission Systems), $0.3 billion for the Guided Multiple Launch Rocket System (GMLRS) program, and $0.2 billion for Triton.

LIQUIDITY AND CAPITAL RESOURCES

We are focused on the efficient conversion of operating income into cash to provide for the company’s material cash requirements, including working capital needs, satisfaction of contractual commitments, funding of our pension and OPB plans, investment in our business through capital expenditures, and shareholder return through dividend payments and share repurchases.

At June 30, 2025, we had $1.9 billion in cash and cash equivalents. We expect cash and cash equivalents and cash generated from operating activities, supplemented by borrowings under credit facilities, commercial paper and/or in the capital markets through our shelf registration with the SEC, if needed, to be sufficient to provide liquidity to the company in the short-term and long-term. The company has a five-year senior unsecured credit facility in an 

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Table of ContentsNORTHROP GRUMMAN CORPORATION                        

aggregate principal amount of $2.5 billion, and in April 2025, we renewed our one-year $500 million uncommitted credit facility. At June 30, 2025,