Northrop Grumman 2009 Annual Report Download - page 8

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NORTHROP GRUMMAN CORPORATION
TABLE OF CONTENTS
Page
PART I
Item 1. Business 1
Item 1A. Risk Factors 10
Item 1B. Unresolved Staff Comments 19
Item 2. Properties 20
Item 3. Legal Proceedings 21
Item 4. Submission of Matters to a Vote of Security Holders 21
PART I I
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of
Equity Securities 22
Item 6. Selected Financial Data 25
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations 26
Overview 26
Business Acquisitions 29
Business Dispositions 29
Contracts 30
Critical Accounting Policies, Estimates, and Judgments 31
Consolidated Operating Results 36
Segment Operating Results 40
Key Segment Financial Measures 41
Backlog 46
Liquidity and Capital Resources 47
Other Matters 51
Glossary of Programs 52
Item 7A. Quantitative and Qualitative Disclosures about Market Risk 58
Item 8. Financial Statements and Supplementary Data 59
Report of Independent Registered Public Accounting Firm 59
Consolidated Statements of Operations 60
Consolidated Statements of Financial Position 61
Consolidated Statements of Cash Flows 62
Consolidated Statements of Changes in Shareholders’ Equity 64
Notes to Consolidated Financial Statements 65
1. Summary of Significant Accounting Policies 65
2. Accounting Standard Updates 70
3. Dividends on Common Stock and Conversion of Preferred Stock 71
4. Business Acquisitions 72
5. Business Dispositions 73
6. Segment Information 73
7. Earnings (Loss) Per Share 76
8. Accounts Receivable, Net 78
9. Inventoried Costs, Net 78
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eBP - v54508-i003_a.pdf - Page 2 of 124 - March 11, 2010 - 20:02:39