Northrop Grumman 2010 Annual Report Download - page 73

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CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
$ in millions 2010 2009
December 31 December 31
Assets
Current Assets
Cash and cash equivalents $ 3,701 $ 3,275
Accounts receivable, net of progress payments 4,057 3,394
Inventoried costs, net of progress payments 1,185 1,170
Deferred tax assets 710 524
Prepaid expenses and other current assets 251 272
Total current assets 9,904 8,635
Property, Plant, and Equipment
Land and land improvements 666 649
Buildings and improvements 2,658 2,422
Machinery and other equipment 5,134 4,759
Capitalized software costs 636 624
Leasehold improvements 670 630
9,764 9,084
Accumulated depreciation (4,722) (4,216)
Property, plant, and equipment, net 5,042 4,868
Other Assets
Goodwill 13,517 13,517
Other purchased intangibles, net of accumulated amortization of $1,965 in 2010 and
$1,871 in 2009 779 873
Pension and post-retirement plan assets 450 300
Long-term deferred tax assets 612 1,010
Miscellaneous other assets 1,117 1,049
Total other assets 16,475 16,749
Total assets $31,421 $30,252
Liabilities and Shareholders’ Equity
Current Liabilities
Notes payable to banks $10 $12
Current portion of long-term debt 774 91
Trade accounts payable 1,846 1,921
Accrued employees’ compensation 1,349 1,281
Advance payments and billings in excess of costs incurred 2,076 1,954
Other current liabilities 2,331 1,726
Total current liabilities 8,386 6,985
Long-term debt, net of current portion 4,045 4,191
Pension and post-retirement plan liabilities 4,116 4,874
Other long-term liabilities 1,317 1,515
Total liabilities 17,864 17,565
Commitments and Contingencies (Note 16)
Shareholders’ Equity
Common stock, $1 par value; 800,000,000 shares authorized; issued and outstanding:
2010—290,956,752; 2009—306,865,201 291 307
Paid-in capital 7,778 8,657
Retained earnings 8,245 6,737
Accumulated other comprehensive loss (2,757) (3,014)
Total shareholders’ equity 13,557 12,687
Total liabilities and shareholders’ equity $31,421 $30,252
The accompanying notes are an integral part of these consolidated financial statements.
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NORTHROP GRUMMAN CORPORATION