Northrop Grumman 2011 Annual Report Download - page 93

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NORTHROP GRUMMAN CORPORATION
Long-term debt consists of the following:
$ in millions
December 31
2011 2010
Fixed-rate notes and debentures, maturing in Interest rate
2011 7.13% $ 769
2014 3.70% $ 350 350
2015 1.85% 500 500
2016 7.75% 107 107
2018 6.75% 200 200
2019 5.05% 500 500
2021 3.50% 700 700
2026 7.81% 527 527
2031 7.75% 466 466
2040 5.05% 300 300
Capital leases Various 37 41
Other Various 253 254
Total long-term debt 3,940 4,714
Less current portion 5774
Long-term debt, net of current portion $3,935 $3,940
Indentures underlying long-term debt issued by the company or its subsidiaries contain various restrictions with
respect to the issuer, including one or more restrictions relating to limitations on liens, sale-leaseback
arrangements, and funded debt of subsidiaries.
Maturities of long-term debt as of December 31, 2011, are as follows:
$ in millions
Year Ending December 31
2012 $5
2013 5
2014 353
2015 502
2016 109
Thereafter 2,955
Total principal payments 3,929
Unamortized premium on long-term debt, net of discount 11
Total long-term debt $3,940
The premium on long-term debt primarily represents non-cash fair market value adjustments resulting from
acquisitions, which are amortized over the life of the related debt.
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