Northrop Grumman 2011 Annual Report Download - page 85

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NORTHROP GRUMMAN CORPORATION
Corporate assets principally consist of cash and cash equivalents and deferred tax assets.
Year Ended December 31
$ in millions 2011 2010 2009
Capital Expenditures from Continuing Operations
Aerospace Systems $184 $195 $211
Electronic Systems 121 176 168
Information Systems 41 31 50
Technical Services 153
Corporate 141 172 41
Total capital expenditures from continuing operations $488 $579 $473
Year Ended December 31
$ in millions 2011 2010 2009
Depreciation and Amortization
Aerospace Systems $200 $237 $238
Electronic Systems 144 150 140
Information Systems 121 133 138
Technical Services 458
Corporate 75 30 26
Total depreciation and amortization from continuing operations $544 $555 $550
The depreciation and amortization expense above includes amortization of purchased intangible assets as well as
amortization of deferred and other outsourcing costs.
8. ACCOUNTS RECEIVABLE, NET
Unbilled amounts represent sales for which billings have not been presented to customers at period-end. These
amounts are usually billed and collected within one year. Progress payments are received on a number of firm
fixed-price contracts. Unbilled amounts are presented net of progress payments of $6.4 billion and $5.7 billion at
December 31, 2011, and 2010, respectively.
Accounts receivables at December 31, 2011, are expected to be collected in 2012, except for $3 million due in
2013 and approximately $5 million due in 2014 and later.
The company does not believe it has significant exposure to credit risk as accounts receivable and the related
unbilled amounts are primarily due from the U.S. Government.
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