Company: NOC
Filing Date: 2025-04-22
Form Type: 10-Q
Source: 0001133421-25-000023
Chunk: 12

Company: NORTHROP GRUMMAN CORP /DE/
Filing Date: 2025-04-22
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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Item 1.    Financial Statements

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME (Unaudited)

 Three Months Ended March 31$ in millions, except per share amounts20252024SalesProduct$7,521 $8,102 Service1,947 2,031 Total sales9,468 10,133 Operating costs and expensesProduct6,366 6,411 Service1,522 1,589 General and administrative expenses1,007 1,062 Total operating costs and expenses8,895 9,062 Operating income573 1,071 Other (expense) incomeInterest expense(156)(146)Non-operating FAS pension benefit130 168 Other, net31 38 Earnings before income taxes578 1,131 Federal and foreign income tax expense97 187 Net earnings$481 $944 Basic earnings per share$3.33 $6.34 Weighted-average common shares outstanding, in millions144.6 148.9 Diluted earnings per share$3.32 $6.32 Weighted-average diluted shares outstanding, in millions144.9 149.3 Net earnings (from above)$481 $944 Other comprehensive income (loss), net of taxChange in cumulative translation adjustment2 1 Change in other, net8 (16)Other comprehensive income (loss), net of tax10 (15)Comprehensive income$491 $929 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

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Table of ContentsNORTHROP GRUMMAN CORPORATION                        

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION 

(Unaudited)

$ in millions, except par valueMarch 31, 2025December 31, 2024AssetsCash and cash equivalents$1,685 $4,353 Accounts receivable, net1,805 1,272 Unbilled receivables, net6,857 5,908 Inventoried costs, net1,578 1,455 Prepaid expenses and other current assets1,342 1,286 Total current assets13,267 14,274 Property, plant and equipment, net of accumulated depreciation of $8,998 for 2025 and $8,733 for 202410,522