Northrop Grumman 2010 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 21
Item 2. Properties 22
Item 3. Legal Proceedings 23
PART II
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of
Equity Securities 24
Item 6. Selected Financial Data 27
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations 28
Overview 28
Business Acquisitions 31
Business Dispositions 31
Contracts 31
Critical Accounting Policies, Estimates, and Judgments 32
Consolidated Operating Results 38
Segment Operating Results 42
Key Segment Financial Measures 43
Backlog 48
Liquidity and Capital Resources 50
Other Matters 53
Glossary of Programs 54
Item 7a. Quantitative and Qualitative Disclosures about Market Risk 60
Item 8. Financial Statements and Supplementary Data 61
Report of Independent Registered Public Accounting Firm 61
Consolidated Statements of Operations 62
Consolidated Statements of Financial Position 63
Consolidated Statements of Cash Flows 64
Consolidated Statements of Changes in Shareholders’ Equity 66
Notes to Consolidated Financial Statements 67
1. Summary of Significant Accounting Policies 67
2. Accounting Standards Updates 73
3. Dividends on Common Stock and Conversion of Preferred Stock 73
4. Earnings (Loss) Per Share 73
5. Business Acquisitions 74
6. Business Dispositions 74
7. Shipbuilding Strategic Actions 75
8. Segment Information 76
9. Accounts Receivable, Net 79
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