Balance Sheet: Assets
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Northrop Grumman Corp., consolidated balance sheet: assets (quarterly data)

US$ in millions

	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
Cash and cash equivalents	2,495)	2,577)	1,666)	1,169)	2,174)	3,530)	4,055)	3,941)	3,517)	4,907)	4,995)	4,178)	3,278)	2,245)	1,127)	1,088)	755)	1,579)	1,228)	1,539)	10,369)
Accounts receivable, net	2,061)	1,511)	1,936)	2,387)	1,713)	1,467)	1,590)	1,910)	1,710)	1,501)	1,958)	1,989)	2,136)	1,326)	2,111)	1,832)	2,166)	1,448)	1,702)	1,815)	1,241)
Unbilled receivables, net	6,215)	5,983)	6,430)	6,211)	6,118)	5,492)	5,674)	5,418)	5,519)	5,140)	5,723)	5,460)	5,918)	5,334)	5,777)	5,657)	5,785)	5,026)	5,600)	5,272)	3,869)
Inventoried costs, net	1,115)	978)	989)	909)	838)	811)	872)	863)	860)	759)	853)	832)	785)	783)	810)	810)	778)	654)	719)	690)	435)
Prepaid expenses and other current assets	924)	1,439)	1,277)	961)	713)	1,126)	737)	630)	647)	1,402)	1,023)	720)	1,011)	997)	1,011)	772)	959)	973)	883)	406)	243)
Assets of disposal group held for sale	—)	—)	—)	—)	—)	—)	—)	—)	—)	1,635)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Current assets	12,810)	12,488)	12,298)	11,637)	11,556)	12,426)	12,928)	12,762)	12,253)	15,344)	14,552)	13,179)	13,128)	10,685)	10,836)	10,159)	10,443)	9,680)	10,132)	9,722)	16,157)
Property, plant and equipment, net of accumulated depreciation	8,838)	8,800)	8,325)	8,125)	8,017)	7,894)	7,277)	7,164)	7,093)	7,071)	7,187)	7,063)	6,956)	6,912)	6,611)	6,522)	6,420)	6,372)	6,025)	5,864)	4,285)
Operating lease right-of-use assets	1,779)	1,811)	1,680)	1,669)	1,702)	1,655)	1,552)	1,575)	1,552)	1,533)	1,479)	1,528)	1,469)	1,511)	1,511)	1,278)	1,283)	—)	—)	—)	—)
Goodwill	17,516)	17,516)	17,516)	17,518)	17,523)	17,515)	17,516)	17,518)	17,518)	17,518)	18,711)	18,707)	18,698)	18,708)	18,707)	18,708)	18,698)	18,672)	18,642)	18,747)	12,455)
Intangible assets, net	364)	384)	433)	483)	533)	578)	629)	680)	732)	783)	844)	909)	974)	1,040)	1,123)	1,206)	1,289)	1,372)	1,460)	1,329)	—)
Deferred tax assets	234)	162)	233)	239)	220)	200)	418)	433)	311)	311)	188)	346)	355)	508)	83)	85)	84)	94)	69)	179)	474)
Other non-current assets	2,703)	2,594)	2,248)	2,243)	2,352)	2,311)	2,026)	2,010)	1,964)	1,909)	1,811)	1,743)	1,623)	1,725)	1,682)	1,626)	1,534)	1,463)	1,615)	1,537)	1,424)
Non-current assets	31,434)	31,267)	30,435)	30,277)	30,347)	30,153)	29,418)	29,380)	29,170)	29,125)	30,220)	30,296)	30,075)	30,404)	29,717)	29,425)	29,308)	27,973)	27,811)	27,656)	18,638)
Total assets	44,244)	43,755)	42,733)	41,914)	41,903)	42,579)	42,346)	42,142)	41,423)	44,469)	44,772)	43,475)	43,203)	41,089)	40,553)	39,584)	39,751)	37,653)	37,943)	37,378)	34,795)

Cash and Cash Equivalents: The cash and cash equivalents showed significant volatility over the periods analyzed. Starting from a high of 10,369 million USD at the end of Q1 2018, there was a sharp decline to 1,539 million USD in Q2 2018. Subsequently, the balance fluctuated, reaching a low of 755 million USD in Q1 2019, followed by a recovery to around 4,995 million USD in Q3 2020. After this peak, the balance gradually decreased with some fluctuations, ending at 2,495 million USD in Q1 2023.
Accounts Receivable, Net: Accounts receivable exhibited fluctuations without a clear long-term trend. The values rose from 1,241 million USD in Q1 2018 to a peak of 2,166 million USD in Q1 2019, then declined to approximately 1,326 million USD by the end of 2019. In 2020 and 2021, accounts receivable remained variable, ending at 2,061 million USD in Q1 2023, suggesting cyclical changes in billing or collections.
Unbilled Receivables, Net: Unbilled receivables showed a generally increasing trend over the period. Starting at 3,869 million USD in Q1 2018, the balance peaked above 6,400 million USD by Q3 2022 before slightly decreasing towards 6,215 million USD by Q1 2023. This indicates a growing volume of revenue recognized but not yet billed, which may affect cash flow timing.
Inventoried Costs, Net: Inventoried costs gradually increased from 435 million USD in Q1 2018 to 1,115 million USD in Q1 2023. The increase was steady, reflecting an accumulation or maintenance of inventory levels, possibly related to production scale or product demand.
Prepaid Expenses and Other Current Assets: This category experienced considerable variation across the periods. It rose sharply from 243 million USD in Q1 2018 to a peak of 1,439 million USD in Q4 2022 but saw some dips along the way, notably in mid-2020 and early 2023. The fluctuations suggest changes in upfront payments or deferred expenses impacting short-term asset composition.
Assets of Disposal Group Held for Sale: Data indicates the presence of disposal group assets amounting to 1,635 million USD only in Q4 2020, with no values reported in other periods. This suggests a one-time classification related to an intended sale or divestiture during that quarter.
Current Assets: Current assets showed a volatile pattern with interim increases and decreases. Starting at 16,157 million USD in Q1 2018, current assets reached a maximum of 15,344 million USD in Q4 2020. After a decrease in early 2021, current assets stabilized around 12,000 to 13,000 million USD, ending at 12,810 million USD in Q1 2023, indicating fluctuations in liquidity or short-term resource management.
Property, Plant and Equipment, Net: This asset category demonstrated a steady upward trend, rising from 4,285 million USD in Q1 2018 to 8,838 million USD in Q1 2023. The consistent increase reflects ongoing capital expenditures or asset acquisitions, aligning with potential capacity expansion or modernization.
Operating Lease Right-of-Use Assets: These assets appeared from Q4 2018 onward, starting at 1,283 million USD and gradually increasing to 1,779 million USD in Q1 2023. The steady rise suggests growing commitments under operating leases, consistent with adoption and application of lease accounting standards.
Goodwill: Goodwill values rose sharply from 12,455 million USD in Q1 2018 to approximately 18,700 million USD by mid-2018 and remained largely stable through the following years, with a slight drop to circa 17,516 million USD after 2020. This pattern indicates significant acquisitions before mid-2018 and subsequent stability in recorded goodwill values.
Intangible Assets, Net: Intangible assets followed a declining trend, decreasing from 1,329 million USD in Q2 2018 to 364 million USD in Q1 2023. This decline reflects amortization or impairment over time, with no new significant intangible asset additions noted during the period.
Deferred Tax Assets: Deferred tax assets showed variability without clear trend, fluctuating between approximately 69 million USD and 508 million USD, with the highest value in Q4 2018. The variation may correspond to changes in tax positions, temporary differences, or tax planning strategies.
Other Non-Current Assets: Other non-current assets generally increased from 1,424 million USD in Q1 2018 to 2,703 million USD in Q1 2023, reflecting steady growth and diversification of longer-term asset holdings.
Non-Current Assets: Non-current assets expanded from 18,638 million USD in Q1 2018 to a peak of 31,267 million USD in Q4 2022, ending at 31,434 million USD in Q1 2023. The increase was driven by property, plant and equipment, goodwill, and other long-term assets, indicating ongoing investment in long-life assets and acquisitions.
Total Assets: Total assets increased from 34,795 million USD in Q1 2018 to 44,244 million USD by Q1 2023. The gradual upward trajectory was supported by growth in both current and non-current assets, suggesting expansion in scale and resource base over the analyzed period.

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Northrop Grumman Corp. (NYSE:NOC)

Balance Sheet: Assets Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data