$NOC
NORTHROP GRUMMAN CORP /DE/

2014 Q2 Form 10-Q Financial Statement

#000113342114000049 Filed on July 23, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2013 Q2
Revenue $6.039B $6.294B
YoY Change -4.05% 0.32%
Cost Of Revenue $1.961B $2.203B
YoY Change -10.99% -4.88%
Gross Profit $4.078B $4.091B
YoY Change -0.32% 3.36%
Gross Profit Margin 67.53% 65.0%
Selling, General & Admin $590.0M $582.0M
YoY Change 1.37% 0.34%
% of Gross Profit 14.47% 14.23%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $108.0M $115.0M
YoY Change -6.09%
% of Gross Profit 2.65% 2.81%
Operating Expenses $590.0M $582.0M
YoY Change 1.37% 0.34%
Operating Profit $820.0M $806.0M
YoY Change 1.74% 4.13%
Interest Expense -$70.00M -$60.00M
YoY Change 16.67% 15.38%
% of Operating Profit -8.54% -7.44%
Other Income/Expense, Net $6.000M -$22.00M
YoY Change -127.27% -540.0%
Pretax Income $756.0M $724.0M
YoY Change 4.42% -0.41%
Income Tax $245.0M $236.0M
% Of Pretax Income 32.41% 32.6%
Net Earnings $511.0M $488.0M
YoY Change 4.71% 1.67%
Net Earnings / Revenue 8.46% 7.75%
Basic Earnings Per Share $2.41 $2.09
Diluted Earnings Per Share $2.37 $2.05
COMMON SHARES
Basic Shares Outstanding 212.4M shares 234.0M shares
Diluted Shares Outstanding 215.2M shares 237.5M shares

Balance Sheet

Concept 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.476B $4.904B
YoY Change -29.12% 55.78%
Cash & Equivalents $3.476B $4.904B
Short-Term Investments
Other Short-Term Assets $339.0M $240.0M
YoY Change 41.25% 6.67%
Inventory $741.0M $745.0M
Prepaid Expenses
Receivables $3.280B $3.124B
Other Receivables $0.00 $0.00
Total Short-Term Assets $8.390B $9.564B
YoY Change -12.28% 24.21%
LONG-TERM ASSETS
Property, Plant & Equipment $2.818B $2.783B
YoY Change 1.26% -5.18%
Goodwill $12.47B $12.44B
YoY Change 0.25% 0.75%
Intangibles
YoY Change
Long-Term Investments $274.0M
YoY Change
Other Assets $1.495B $1.295B
YoY Change 15.44% -8.09%
Total Long-Term Assets $16.96B $17.94B
YoY Change -5.48% 2.39%
TOTAL ASSETS
Total Short-Term Assets $8.390B $9.564B
Total Long-Term Assets $16.96B $17.94B
Total Assets $25.35B $27.51B
YoY Change -7.84% 9.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.178B $1.195B
YoY Change -1.42% 0.34%
Accrued Expenses $1.154B $1.001B
YoY Change 15.28% -1.86%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.414B $5.639B
YoY Change -3.99% 0.55%
LONG-TERM LIABILITIES
Long-Term Debt $5.927B $5.929B
YoY Change -0.03% 50.79%
Other Long-Term Liabilities $922.0M $956.0M
YoY Change -3.56% 5.75%
Total Long-Term Liabilities $922.0M $956.0M
YoY Change -3.56% 5.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.414B $5.639B
Total Long-Term Liabilities $922.0M $956.0M
Total Liabilities $15.08B $17.95B
YoY Change -15.97% 23.7%
SHAREHOLDERS EQUITY
Retained Earnings $12.95B $11.84B
YoY Change 9.35% 13.62%
Common Stock $209.0M $2.355B
YoY Change -91.13% -36.2%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $10.27B $9.558B
YoY Change
Total Liabilities & Shareholders Equity $25.35B $27.51B
YoY Change -7.84% 9.05%

Cashflow Statement

Concept 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income $511.0M $488.0M
YoY Change 4.71% 1.67%
Depreciation, Depletion And Amortization $108.0M $115.0M
YoY Change -6.09%
Cash From Operating Activities $572.0M $328.0M
YoY Change 74.39% -62.56%
INVESTING ACTIVITIES
Capital Expenditures -$116.0M -$48.00M
YoY Change 141.67% -5.88%
Acquisitions
YoY Change
Other Investing Activities $0.00 $4.000M
YoY Change -100.0% -90.91%
Cash From Investing Activities -$116.0M -$44.00M
YoY Change 163.64% 528.57%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -865.0M 1.437B
YoY Change -160.19% -456.58%
NET CHANGE
Cash From Operating Activities 572.0M 328.0M
Cash From Investing Activities -116.0M -44.00M
Cash From Financing Activities -865.0M 1.437B
Net Change In Cash -409.0M 1.721B
YoY Change -123.77% 269.31%
FREE CASH FLOW
Cash From Operating Activities $572.0M $328.0M
Capital Expenditures -$116.0M -$48.00M
Free Cash Flow $688.0M $376.0M
YoY Change 82.98% -59.44%

Facts In Submission

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Guarantees of Subsidiary Performance Obligations</font></div><div style="line-height:120%;padding-bottom:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">From time to time in the ordinary course of business, the company guarantees obligations of its subsidiaries under certain contracts. Generally, the company is liable under such an arrangement only if its subsidiary is unable to perform under its contract. Historically, the company has not incurred any substantial liabilities resulting from these guarantees.</font></div><div style="line-height:120%;padding-bottom:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In addition, the company&#8217;s subsidiaries&#160;may enter into joint ventures, teaming and other business arrangements (collectively, Business Arrangements) to support the company&#8217;s products and services in domestic and international markets. The company generally strives to limit its exposure under these arrangements to its subsidiary&#8217;s investment in the Business Arrangements or to the extent of such subsidiary&#8217;s obligations under the applicable contract. In some cases, however, the company may be required to guarantee performance by the Business Arrangements and, in such cases, the company generally strives to obtain cross-indemnification from the other members of the Business Arrangements.</font></div></div>
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NetIncomeLoss
977000000 USD
us-gaap Net Income Loss
NetIncomeLoss
1090000000 USD
CY2013Q2 us-gaap Net Income Loss
NetIncomeLoss
488000000 USD
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4 segment
CY2013Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
806000000 USD
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
820000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
1665000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
1565000000 USD
CY2014Q2 us-gaap Other Assets Current
OtherAssetsCurrent
339000000 USD
CY2013Q4 us-gaap Other Assets Current
OtherAssetsCurrent
350000000 USD
CY2013Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1440000000 USD
CY2014Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1495000000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-7000000 USD
CY2014Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
0 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
2000000 USD
CY2013Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
9000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
98000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
152000000 USD
CY2014Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
35000000 USD
CY2013Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
88000000 USD
CY2013Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-79000000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-159000000 USD
CY2014Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-35000000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-96000000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
159000000 USD
CY2013Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
79000000 USD
CY2014Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
35000000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
73000000 USD
CY2014Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1494000000 USD
CY2013Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1418000000 USD
CY2014Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
922000000 USD
CY2013Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
1064000000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
25000000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-17000000 USD
CY2014Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
6000000 USD
CY2013Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-22000000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-16000000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
16000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-6000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
72000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
921000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1301000000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
280000000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
272000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
176000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
88000000 USD
CY2013Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
2954000000 USD
CY2014Q2 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
2820000000 USD
CY2013Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1
CY2014Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1
CY2014Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2013Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2014Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2013Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2013Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2014Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2013Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2013 us-gaap Prior Period Reclassification Adjustment
PriorPeriodReclassificationAdjustment
277000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
2841000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-15000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
24000000 USD
CY2013Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2806000000 USD
CY2014Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2818000000 USD
CY2014Q2 us-gaap Receivables Long Term Contracts Or Programs
ReceivablesLongTermContractsOrPrograms
3280000000 USD
CY2013Q4 us-gaap Receivables Long Term Contracts Or Programs
ReceivablesLongTermContractsOrPrograms
2685000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
71000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
51000000 USD
CY2014Q2 us-gaap Stockholders Equity
StockholdersEquity
10268000000 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
10620000000 USD
us-gaap Reclassifications
Reclassifications
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Reclassifications</font></div><div style="line-height:120%;padding-bottom:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our unaudited condensed consolidated statements of cash flows for the </font><font style="font-family:inherit;font-size:10pt;">six</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">June&#160;30, 2014</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2013</font><font style="font-family:inherit;font-size:10pt;"> reflect cash flows from operating activities presented solely on the indirect method. The company previously presented both the direct method and indirect method for our cash flows from operating activities. This change in reporting method had no effect on the amount of our net cash flows from operating activities.</font></div><div style="line-height:120%;padding-bottom:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In the first quarter of 2014, we reclassified our cash awards incentive compensation accrual from other current liabilities to accrued employee compensation, which are both reported within current liabilities on the unaudited condensed consolidated statement of financial position.</font></div></div>
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
877000000 USD
CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
12538000000 USD
CY2014Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
12945000000 USD
us-gaap Revenue Recognition Long Term Contracts
RevenueRecognitionLongTermContracts
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The majority of our contracts are accounted for under the percentage-of-completion method. For such contracts, changes in estimates of contract sales, costs or profits are recognized using the cumulative catch-up method of accounting. This method recognizes, in the current period, the cumulative effect of the changes on current and prior periods; revenue and profit in future periods of contract performance are recognized as if the revised estimates had been used since contract inception. Changes in contract estimates occur for a variety of reasons, including changes in contract scope, estimated revenue and cost estimates. These changes are often driven by events such as the resolution of risk at lower or higher cost than anticipated, unanticipated risks affecting contract costs, changes in indirect cost allocations, such as overhead and general and administrative expenses, and changes in estimated incentive fees. We employ an extensive contract management process involving several functional organizations and numerous personnel who are skilled at managing contract activities. Changes in estimates are frequent; the company performs on a broad portfolio of long-term contracts, including the development of complex and customized military platforms and systems, as well as advanced electronic equipment and software, that often include technology at the forefront of science. </font></div></div>
CY2013Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
3593000000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
6972000000 USD
CY2014Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
3564000000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
7014000000 USD
CY2013Q2 us-gaap Sales Revenue Net
SalesRevenueNet
6294000000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
11887000000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
12398000000 USD
CY2014Q2 us-gaap Sales Revenue Net
SalesRevenueNet
6039000000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
4915000000 USD
CY2014Q2 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
2475000000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
5384000000 USD
CY2013Q2 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
2701000000 USD
CY2013Q2 us-gaap Stockholders Equity
StockholdersEquity
9558000000 USD
us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
59000000 USD
CY2014Q2 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
12000000 USD
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Accounting Estimates</font></div><div style="line-height:120%;padding-bottom:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The accompanying unaudited condensed consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). The preparation thereof requires management to make estimates and judgments that affect the reported amounts of assets and liabilities and the disclosure of contingencies at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Estimates have been prepared using the most current and best available information; however, actual results could differ materially from those estimates.</font></div></div>
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
239200000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
217700000 shares
CY2013Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
237500000 shares
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
215200000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
214300000 shares
CY2013Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
234000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
235200000 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
212400000 shares
CY2014Q2 noc Accumulated Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax And Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax
AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTaxAndAccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax
-2000000 USD
CY2013Q4 noc Accumulated Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax And Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax
AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTaxAndAccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax
-2000000 USD
noc Changes In Contract Estimates Affecting Earnings From Continuing Operations
ChangesInContractEstimatesAffectingEarningsFromContinuingOperations
421000000 USD
CY2013Q2 noc Changes In Contract Estimates Affecting Earnings From Continuing Operations
ChangesInContractEstimatesAffectingEarningsFromContinuingOperations
247000000 USD
CY2014Q2 noc Changes In Contract Estimates Affecting Earnings From Continuing Operations
ChangesInContractEstimatesAffectingEarningsFromContinuingOperations
165000000 USD
noc Changes In Contract Estimates Affecting Earnings From Continuing Operations
ChangesInContractEstimatesAffectingEarningsFromContinuingOperations
362000000 USD
noc Changes In Contract Estimates Affecting Earnings From Continuing Operations Per Diluted Share
ChangesInContractEstimatesAffectingEarningsFromContinuingOperationsPerDilutedShare
1.08
CY2013Q2 noc Changes In Contract Estimates Affecting Earnings From Continuing Operations Per Diluted Share
ChangesInContractEstimatesAffectingEarningsFromContinuingOperationsPerDilutedShare
0.68
noc Changes In Contract Estimates Affecting Earnings From Continuing Operations Per Diluted Share
ChangesInContractEstimatesAffectingEarningsFromContinuingOperationsPerDilutedShare
1.15
CY2014Q2 noc Changes In Contract Estimates Affecting Earnings From Continuing Operations Per Diluted Share
ChangesInContractEstimatesAffectingEarningsFromContinuingOperationsPerDilutedShare
0.50
noc Current Period Impactof Reclassification
CurrentPeriodImpactofReclassification
148000000 USD
CY2014Q2 noc Increase Decreasein Stock Dividend Percentage
IncreaseDecreaseinStockDividendPercentage
0.15
CY2013Q2 noc Increase Decreasein Stock Dividend Percentage
IncreaseDecreaseinStockDividendPercentage
0.11
CY2014Q2 noc Standby Unused Letters Of Creditandbankguarantees
StandbyUnusedLettersOfCreditandbankguarantees
322000000 USD
CY2014Q2 noc Surety Bond Outstanding
SuretyBondOutstanding
165000000 USD
CY2013Q4 noc Unamortizedbenefitplancosts Tax Benefitexpense
UnamortizedbenefitplancostsTaxBenefitexpense
1972000000 USD
CY2014Q2 noc Unamortizedbenefitplancosts Tax Benefitexpense
UnamortizedbenefitplancostsTaxBenefitexpense
1910000000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Period End Date
DocumentPeriodEndDate
2014-06-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001133421
CY2014Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
207938701 shares
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
NORTHROP GRUMMAN CORP /DE/
dei Entity Voluntary Filers
EntityVoluntaryFilers
No
dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes
CY2014Q2 invest Derivative Notional Amount
DerivativeNotionalAmount
181000000 USD
CY2013Q4 invest Derivative Notional Amount
DerivativeNotionalAmount
161000000 USD

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