Analysis of Debt

Northrop Grumman Corp., balance sheet: debt

US$ in millions

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Current portion of long-term debt	1,072)	6)	742)	1,109)	517)
Long-term debt, net of current portion	11,805)	12,777)	14,261)	12,770)	13,883)
Total long-term debt, including current portion (carrying amount)	12,877)	12,783)	15,003)	13,879)	14,400)

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Debt item	Description	The company
Total long-term debt, including current portion (carrying amount)	Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations.	Northrop Grumman Corp. total debt decreased from 2020 to 2021 but then slightly increased from 2021 to 2022.

	Dec 31, 2022
Selected Financial Data (US$ in millions)
Total long-term debt, including current portion (fair value)	12,100)
Financial Ratio
Debt, fair value to carrying amount ratio	0.94

Weighted-average interest rate on debt: 4.19%

Interest rate	Debt amount¹	Interest rate × Debt amount
3.25%	1,050)	34)
2.93%	1,500)	44)
7.88%	527)	42)
3.20%	750)	24)
3.25%	2,000)	65)
4.40%	750)	33)
7.75%	466)	36)
5.15%	800)	41)
4.75%	950)	45)
3.85%	600)	23)
4.03%	2,250)	91)
5.25%	1,000)	53)
Total	12,643)	530)
4.19%

¹ US$ in millions

² Weighted-average interest rate = 100 × 530 ÷ 12,643 = 4.19%

Northrop Grumman Corp. (NYSE:NOC)