Northrop Grumman 2010 Annual Report Download - page 31

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significant impact on cash flow in a particular period. Furthermore, changes in applicable domestic or foreign
income tax laws and regulations, or their interpretation, could result in higher or lower income tax rates
assessed or changes in the taxability of certain sales or the deductibility of certain expenses, thereby affecting
our income tax expense and profitability. The final determination of any tax audits or related litigation could
be materially different from our historical income tax provisions and accruals. Additionally, changes in our
tax rate as a result of a change in the mix of earnings in countries with differing statutory tax rates, changes
in our overall profitability, changes in tax legislation, changes in the valuation of deferred tax assets and
liabilities, changes in differences between financial reporting income and taxable income, the results of audits
and the examination of previously filed tax returns by taxing authorities and continuing assessments of our
tax exposures could impact our tax liabilities and affect our income tax expense, profitability and cash flow.
Item 1B. Unresolved Staff Comments
We have no unresolved comments from the SEC.
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NORTHROP GRUMMAN CORPORATION