Northrop Grumman 2009 Annual Report Download - page 71

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CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
$ in millions 2009 2008
December 31 December 31
Assets
Current Assets
Cash and cash equivalents $ 3,275 $ 1,504
Accounts receivable, net of progress payments 3,394 3,701
Inventoried costs, net of progress payments 1,170 1,003
Deferred tax assets 524 585
Prepaid expenses and other current assets 272 219
Assets of discontinued operations 1,231
Total current assets 8,635 8,243
Property, Plant, and Equipment
Land and land improvements 649 619
Buildings and improvements 2,422 2,326
Machinery and other equipment 4,759 4,547
Capitalized software costs 624 530
Leasehold improvements 630 545
9,084 8,567
Accumulated depreciation (4,216) (3,782)
Property, plant, and equipment, net 4,868 4,785
Other Assets
Goodwill 13,517 13,509
Other purchased intangibles, net of accumulated amortization of $1,871 in 2009 and
$1,767 in 2008 873 947
Pension and post-retirement plan assets 300 290
Long-term deferred tax assets 1,010 1,497
Miscellaneous other assets 1,049 926
Total other assets 16,749 17,169
Total assets $30,252 $30,197
Liabilities and Shareholders’ Equity
Current Liabilities
Notes payable to banks $12 $24
Current portion of long-term debt 91 477
Trade accounts payable 1,921 1,887
Accrued employees’ compensation 1,281 1,231
Advance payments and billings in excess of costs incurred 1,954 2,028
Other current liabilities 1,726 1,637
Liabilities of discontinued operations 165
Total current liabilities 6,985 7,449
Long-term debt, net of current portion 4,191 3,443
Pension and post-retirement plan liabilities 4,874 5,823
Other long-term liabilities 1,515 1,562
Total liabilities 17,565 18,277
Commitments and Contingencies (Note 15)
Shareholders’ Equity
Common stock, $1 par value; 800,000,000 shares authorized; issued and outstanding:
2009—306,865,201; 2008—327,012,663 307 327
Paid-in capital 8,657 9,645
Retained earnings 6,737 5,590
Accumulated other comprehensive loss (3,014) (3,642)
Total shareholders’ equity 12,687 11,920
Total liabilities and shareholders’ equity $30,252 $30,197
The accompanying notes are an integral part of these consolidated financial statements.
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NORTHROP GRUMMAN CORPORATION
eBP - v54508-i003_a.pdf - Page 65 of 124 - March 11, 2010 - 20:02:39