Company: NOC
Filing Date: 2025-04-22
Form Type: 10-Q
Source: 0001133421-25-000023
Chunk: 28

Company: NORTHROP GRUMMAN CORP /DE/
Filing Date: 2025-04-22
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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 March 31, 2025, the company was in compliance with all covenants under its credit agreements.

8.    RETIREMENT BENEFITS

The cost to the company of its pension and other postretirement benefit (OPB) plans is shown in the following table: Three Months Ended March 31PensionBenefitsOPB$ in millions2025202420252024Components of net periodic benefit cost (benefit)Service cost$54 $60 $1 $1 Interest cost403 381 16 15 Expected return on plan assets(540)(549)(21)(21)Amortization of prior service credit— — (1)— Other7 — — — Net periodic benefit cost (benefit)$(76)$(108)$(5)$(5)Employer ContributionsThe company sponsors defined benefit pension and OPB plans, as well as defined contribution plans. We fund our defined benefit pension plans annually in a manner consistent with the Employee Retirement Income Security Act of 1974, as amended by the Pension Protection Act of 2006.

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Table of ContentsNORTHROP GRUMMAN CORPORATION                        

Contributions made by the company to its retirement plans are as follows: Three Months Ended March 31$ in millions20252024Defined benefit pension plans$18 $25 OPB plans10 11 Defined contribution plans229 230 

9.    STOCK COMPENSATION PLANS AND OTHER COMPENSATION ARRANGEMENTS

Stock AwardsThe following table presents the number of restricted stock rights (RSRs) and restricted performance stock rights (RPSRs) granted to employees under the company’s long-term incentive stock plan and the grant date aggregate fair value of those stock awards for the periods presented:Three Months Ended March 31in millions20252024RSRs granted0.1 0.1 RPSRs granted0.1 0.2 Grant date aggregate fair value$100 $104 RSRs typically vest on the third anniversary of the grant date, while RPSRs generally vest and pay out based on the achievement of certain performance metrics and market conditions over a three-year period.Cash AwardsThe following table presents the minimum and maximum aggregate payout amounts related to cash units (CUs) and cash performance units (CPUs) granted to employees in the periods presented:Three Months Ended March 31$ in millions20252024Minimum aggregate payout amount$