Northrop Grumman 2012 Annual Report Download - page 54

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NORTHROP GRUMMAN CORPORATION
-44-
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
December 31
$ in millions 2012 2011
Assets
Cash and cash equivalents $ 3,862 $ 3,002
Accounts receivable, net of progress payments 2,858 2,964
Inventoried costs, net of progress payments 798 873
Deferred tax assets 574 496
Prepaid expenses and other current assets 300 411
Total current assets 8,392 7,746
Property, plant and equipment, net of accumulated depreciation of $4,146 in 2012 and
$3,933 in 2011 2,887 3,047
Goodwill 12,431 12,374
Non-current deferred tax assets 1,542 900
Other non-current assets 1,291 1,344
Total assets $26,543 $25,411
Liabilities
Trade accounts payable $ 1,392 $ 1,481
Accrued employee compensation 1,173 1,196
Advance payments and billings in excess of costs incurred 1,759 1,777
Other current liabilities 1,732 1,681
Total current liabilities 6,056 6,135
Long-term debt, net of current portion of $5 in 2012 and 2011 3,930 3,935
Pension and post-retirement plan liabilities 6,085 4,079
Other non-current liabilities 958 926
Total liabilities 17,029 15,075
Commitments and contingencies (Note 12)
Shareholders’ equity
Preferred Stock, $1 par value; 10,000,000 shares authorized; no shares issued and
outstanding ——
Common stock, $1 par value; 800,000,000 shares authorized; issued and outstanding:
2012 — 239,209,812; 2011 — 253,889,622 239 254
Paid-in capital 2,924 3,873
Retained earnings 11,138 9,699
Accumulated other comprehensive loss (4,787)(3,490)
Total shareholders’ equity 9,514 10,336
Total liabilities and shareholders’ equity $26,543 $25,411
The accompanying notes are an integral part of these consolidated financial statements.