Northrop Grumman 2012 Annual Report Download - page 8

Download and view the complete annual report

Please find page 8 of the 2012 Northrop Grumman annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 104

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104

i
NORTHROP GRUMMAN CORPORATION
TABLE OF CONTENTS
Page
Item 1.
Item 1A.
Item 1B.
Item 2.
Item 3.
Item 4.
Item 5.
Item 6.
Item 7.
Item 7A.
Item 8.
PART I
Business 1
Risk Factors 7
Unresolved Staff Comments 18
Properties 18
Legal Proceedings 19
Mine Safety Disclosures 19
PART II
Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity
Securities 20
Selected Financial Data 23
Management’s Discussion and Analysis of Financial Condition and Results of Operations 24
OVERVIEW 24
CONSOLIDATED OPERATING RESULTS 25
SEGMENT OPERATING RESULTS 29
PRODUCT AND SERVICE ANALYSIS 31
BACKLOG 33
LIQUIDITY AND CAPITAL RESOURCES 34
CRITICAL ACCOUNTING POLICIES, ESTIMATES, AND JUDGMENTS 36
OTHER MATTERS 40
Quantitative and Qualitative Disclosures about Market Risk 41
Financial Statements and Supplementary Data 42
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 42
CONSOLIDATED STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME 43
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION 44
CONSOLIDATED STATEMENTS OF CASH FLOWS 45
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY 47
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 48
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 48
2. EARNINGS PER SHARE, SHARE REPURCHASES, DIVIDENDS ON COMMON SHARES 53
3. BUSINESS DISPOSITIONS 54
4. SEGMENT INFORMATION 55
5. ACCOUNTS RECEIVABLE, NET 57
6. INVENTORIED COSTS, NET 58
7. INCOME TAXES 58
8. GOODWILL AND OTHER PURCHASED INTANGIBLE ASSETS 60
9. FAIR VALUE OF FINANCIAL INSTRUMENTS 61