Company: NOC
Filing Date: 2025-10-21
Form Type: 10-Q
Source: 0001133421-25-000053
Chunk: 24

Company: NORTHROP GRUMMAN CORP /DE/
Filing Date: 2025-10-21
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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2025 and December 31, 2024 was $334 million and $399 million, respectively. The portion of notional value designated as a cash flow hedge at September 30, 2025 and December 31, 2024 was $241 million and $273 million, respectively.The derivative fair values and related unrealized gains/losses at September 30, 2025 and December 31, 2024 were not material.The carrying value of cash and cash equivalents approximates fair value.Long-term DebtThe estimated fair value of the company’s long-term debt was $15.1 billion and $15.3 billion as of September 30, 2025 and December 31, 2024, respectively. We calculated the fair value of long-term debt using Level 2 inputs, based on interest rates available for debt with terms and maturities similar to the company’s existing debt 

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Table of ContentsNORTHROP GRUMMAN CORPORATION                        

arrangements. The current portion of long-term debt is recorded in Other current liabilities in the unaudited condensed consolidated statements of financial position.Issuance of Senior NotesIn May 2025, the company issued $1.0 billion of unsecured senior notes for general corporate purposes, including debt repayment, share repurchases, and working capital, as follows:•$500 million of 4.65% senior notes due 2030 (the “2030 Notes”) and•$500 million of 5.25% senior notes due 2035 (the “2035 Notes”).In January 2024, the company issued $2.5 billion of unsecured senior notes for general corporate purposes, including debt repayment, share repurchases, and working capital, as follows:•$500 million of 4.60% senior notes due 2029 (the “2029 Notes”),•$850 million of 4.90% senior notes due 2034 (the “2034 Notes”), and•$1.15 billion of 5.20% senior notes due 2054 (the “2054 Notes”).We refer to the 2029 Notes, 2030 Notes, 2034 Notes, 2035 Notes, and 2054 Notes together, as the “notes.” Interest on the notes is payable semi-annually in arrears. The notes are generally subject to redemption, in whole or in part, at the company’s discretion at any time, or from time to