Stock Analysis on Net
Stock Analysis on Net

Northrop Grumman Corp. (NYSE:NOC)

$22.49

This company has been moved to the archive! The financial data has not been updated since April 27, 2023.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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Northrop Grumman Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Trade accounts payable
Accrued employee compensation
Advance payments and billings in excess of costs incurred
Current portion of long-term debt
Other current liabilities
Liabilities of disposal group held for sale
Current liabilities
Long-term debt, net of current portion
Pension and other postretirement benefit plan liabilities
Non-current operating lease liabilities
Other non-current liabilities
Non-current liabilities
Total liabilities
Preferred stock, $1 par value; no shares issued and outstanding
Common stock, $1 par value
Paid-in capital
Retained earnings
Accumulated other comprehensive loss
Shareholders’ equity
Total liabilities and shareholders’ equity

Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

Trade Accounts Payable
The proportion of trade accounts payable relative to total liabilities and shareholders’ equity fluctuates moderately over the periods analyzed. It begins at 4.01% in March 2018, peaks near 5.91% in December 2022, before decreasing to 4.83% by March 2023. This indicates some variability in short-term supplier obligations as a percentage of total financing.
Accrued Employee Compensation
This liability item shows cyclical increases, ranging from a low of about 3.41% in March 2020 to highs near 4.7% in December 2022, before falling back to 3.72% in March 2023. This pattern suggests seasonal or operational impacts on compensation accrual accruals aligned with fiscal quarters.
Advance Payments and Billings in Excess of Costs Incurred
There is a consistent upward trend throughout the series, increasing from 4.25% in early 2018 to a peak of 8.25% in December 2022. The modest decline to 7.26% in March 2023 follows a multi-year rise, suggesting growing advance revenue recognition or customer prepayments relative to total liabilities and equity.
Current Portion of Long-Term Debt
Fluctuations are evident with a general decline through 2019 followed by a sharp increase to over 4% in early 2020, then a significant drop close to zero in late 2020 and again rising above 2% by early 2023. These shifts indicate variable debt repayment schedules influencing short-term debt levels.
Other Current Liabilities
Values vary without a clear trend, oscillating mostly between 4% and 7.5%, indicating relative stability but reflecting some operational or timing differences in miscellaneous current liabilities.
Current Liabilities
The share of current liabilities within total financing remains within a fairly tight range from about 18% to 26%, with a notable rise during 2022, peaking at 26.48% in December before retreating slightly. This suggests that the customer or supplier payment cycles and short-term debt management vary moderately over time.
Long-Term Debt, Net of Current Portion
A downward trend is observed in long-term debt from 41.36% in early 2018 to around 27% by late 2022, though with some minor fluctuations. An increase to 31.12% occurs in March 2023. This indicates a gradual reduction in longer-term borrowing over the period, with a slight reversal at the latest date.
Pension and Other Postretirement Benefit Plan Liabilities
Considerable decline occurs from a high near 16% in early periods to approximately 2.65% by March 2023. This steep decrease likely reflects significant payments, adjustments, or changes in accounting assumptions reducing pension-related liabilities.
Non-Current Operating Lease Liabilities
Data beginning in 2019 show a gentle upward trend from approximately 2.7% to just over 4% in March 2023. This rise may represent growth in leased assets or changes in lease accounting standards increasing recognized liabilities.
Other Non-Current Liabilities
These liabilities remain relatively stable, oscillating mostly between 2.7% and 5.8%, indicating consistent levels of miscellaneous long-term obligations.
Non-Current Liabilities
A declining trajectory is clear, from nearly 60% in early 2018 downs to about 38.5% by late 2022, before a modest rebound to 42.1% in March 2023. The reduction is influenced by the decrease in pension liabilities and long-term debt.
Total Liabilities
The aggregate liabilities decline steadily from about 78% in early 2018 to approximately 65% in early 2023, showing deleveraging or growth in equity components relative to debt.
Shareholders’ Equity
Equity proportion grows gradually from around 22% in 2018 to nearly 35% by early 2023, reflecting either retained earnings accumulation, capital injections, or valuation changes enhancing net worth in relation to total capital structure.
Retained Earnings
Retained earnings as a percent of total financing show a generally upward trend with some variability, increasing from approximately 38% early on (noting a one-time drop in late 2018) to a range near 34% in 2023. This suggests consistent profitability or reduced dividend payments over time.
Accumulated Other Comprehensive Loss
This item improves markedly from a significant negative figure (~-16%) in early 2018 to a minor negative balance near -0.34% in late periods, indicating reduced accumulated losses from items excluded from net income, such as foreign currency translation or pension adjustments.