Northrop Grumman 2013 Annual Report Download - page 57

Download and view the complete annual report

Please find page 57 of the 2013 Northrop Grumman annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 104

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104

NORTHROP GRUMMAN CORPORATION
-47-
Year Ended December 31
$ in millions 2013 2012 2011
Reconciliation of net earnings to net cash provided by operating
activities
Net earnings $1,952 $1,978 $2,118
Net earnings from discontinued operations ——(32)
Adjustments to reconcile to net cash provided by operating activities:
Depreciation and amortization 495 510 544
Stock-based compensation 144 183 140
Excess tax benefits from stock-based compensation (43)(45)(17)
Deferred income taxes 128 78 441
(Increase) decrease in assets:
Accounts receivable, net 171 90 350
Inventoried costs, net 101 46 (2)
Prepaid expenses and other assets (51)(65) 16
Increase (decrease) in liabilities:
Accounts payable and accruals (169)23 (341)
Income taxes payable 2(75)(32)
Retiree benefits (281)(71)(904)
Other, net 34 (12) 66
Cash provided by continuing operations 2,483 2,640 2,347
Cash used in discontinued operations ——(232)
Net cash provided by operating activities $2,483 $2,640 $2,115
The accompanying notes are an integral part of these consolidated financial statements.