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Analysis of Goodwill and Intangible Assets
Goodwill and Intangible Asset Disclosure
Northrop Grumman Corp., balance sheet: goodwill and intangible assets
US$ in millions
Based on: 10-K (filing date: 2021-01-28), 10-K (filing date: 2020-01-30), 10-K (filing date: 2019-01-31), 10-K (filing date: 2018-01-29), 10-K (filing date: 2017-01-30).
Item | Description | The company |
---|---|---|
Net customer-related and other intangible assets | Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. | Northrop Grumman Corp.’s net customer-related and other intangible assets decreased from 2018 to 2019 and from 2019 to 2020. |
Goodwill | Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. | Northrop Grumman Corp.’s goodwill increased from 2018 to 2019 but then decreased significantly from 2019 to 2020. |
Goodwill and other purchased intangible assets | Sum of the carrying amounts of all intangible assets, including goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. | Northrop Grumman Corp.’s goodwill and other purchased intangible assets decreased from 2018 to 2019 and from 2019 to 2020. |
Adjustments to Financial Statements: Removal of Goodwill
Northrop Grumman Corp., adjustments to financial statements
US$ in millions
Based on: 10-K (filing date: 2021-01-28), 10-K (filing date: 2020-01-30), 10-K (filing date: 2019-01-31), 10-K (filing date: 2018-01-29), 10-K (filing date: 2017-01-30).
Northrop Grumman Corp., Financial Data: Reported vs. Adjusted
Adjusted Financial Ratios: Removal of Goodwill (Summary)
Northrop Grumman Corp., adjusted financial ratios
Based on: 10-K (filing date: 2021-01-28), 10-K (filing date: 2020-01-30), 10-K (filing date: 2019-01-31), 10-K (filing date: 2018-01-29), 10-K (filing date: 2017-01-30).
Financial ratio | Description | The company |
---|---|---|
Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Northrop Grumman Corp.’s adjusted total asset turnover ratio deteriorated from 2018 to 2019 and from 2019 to 2020. |
Adjusted ROA | A profitability ratio calculated as net income divided by adjusted total assets. | Northrop Grumman Corp.’s adjusted ROA deteriorated from 2018 to 2019 but then slightly improved from 2019 to 2020. |
Northrop Grumman Corp., Financial Ratios: Reported vs. Adjusted
Adjusted Total Asset Turnover
Based on: 10-K (filing date: 2021-01-28), 10-K (filing date: 2020-01-30), 10-K (filing date: 2019-01-31), 10-K (filing date: 2018-01-29), 10-K (filing date: 2017-01-30).
2020 Calculations
1 Total asset turnover = Sales ÷ Total assets
= ÷ =
2 Adjusted total asset turnover = Sales ÷ Adjusted total assets
= ÷ =
Activity ratio | Description | The company |
---|---|---|
Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Northrop Grumman Corp.’s adjusted total asset turnover ratio deteriorated from 2018 to 2019 and from 2019 to 2020. |
Adjusted Financial Leverage
Based on: 10-K (filing date: 2021-01-28), 10-K (filing date: 2020-01-30), 10-K (filing date: 2019-01-31), 10-K (filing date: 2018-01-29), 10-K (filing date: 2017-01-30).
2020 Calculations
1 Financial leverage = Total assets ÷ Shareholders’ equity
= ÷ =
2 Adjusted financial leverage = Adjusted total assets ÷ Adjusted shareholders’ equity
= ÷ =
Adjusted Return on Equity (ROE)
Based on: 10-K (filing date: 2021-01-28), 10-K (filing date: 2020-01-30), 10-K (filing date: 2019-01-31), 10-K (filing date: 2018-01-29), 10-K (filing date: 2017-01-30).
2020 Calculations
1 ROE = 100 × Net earnings ÷ Shareholders’ equity
= 100 × ÷ =
2 Adjusted ROE = 100 × Net earnings ÷ Adjusted shareholders’ equity
= 100 × ÷ =
Adjusted Return on Assets (ROA)
Based on: 10-K (filing date: 2021-01-28), 10-K (filing date: 2020-01-30), 10-K (filing date: 2019-01-31), 10-K (filing date: 2018-01-29), 10-K (filing date: 2017-01-30).
2020 Calculations
1 ROA = 100 × Net earnings ÷ Total assets
= 100 × ÷ =
2 Adjusted ROA = 100 × Net earnings ÷ Adjusted total assets
= 100 × ÷ =
Profitability ratio | Description | The company |
---|---|---|
Adjusted ROA | A profitability ratio calculated as net income divided by adjusted total assets. | Northrop Grumman Corp.’s adjusted ROA deteriorated from 2018 to 2019 but then slightly improved from 2019 to 2020. |