Stock Analysis on Net
Stock Analysis on Net

Northrop Grumman Corp. (NYSE:NOC)

Balance Sheet: Assets
Quarterly Data

Beginner level

The balance sheet provides creditors, investors, and analysts with information on company’s resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company’s 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

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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 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Cash and cash equivalents 4,178  3,278  2,245  1,127  1,088  755  1,579  1,228  1,539  10,369  11,225  1,878  1,383  1,403  2,541  1,103  1,139  1,277  2,319  1,292  1,907  2,646 
Accounts receivable, net 1,989  2,136  1,326  2,111  1,832  2,166  1,448  1,702  1,815  1,241  3,976  4,414  4,280  4,072  3,299  3,659  3,483  3,346  2,841  3,268  3,151  3,131 
Unbilled receivables, net 5,460  5,918  5,334  5,777  5,657  5,785  5,026  5,600  5,272  3,869  —  —  —  —  —  —  —  —  —  —  —  — 
Inventoried costs, net 832  785  783  810  810  778  654  719  690  435  780  1,007  1,039  933  816  797  973  898  807  856  856  818 
Deferred tax assets —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  336  386  371 
Prepaid expenses and other current assets 720  1,011  997  1,011  772  959  973  883  406  243  368  300  162  160  200  212  186  185  367  199  160  177 
Current assets 13,179  13,128  10,685  10,836  10,159  10,443  9,680  10,132  9,722  16,157  16,349  7,599  6,864  6,568  6,856  5,771  5,781  5,706  6,334  5,951  6,460  7,143 
Property, plant and equipment, net of accumulated depreciation 7,063  6,956  6,912  6,611  6,522  6,420  6,372  6,025  5,864  4,285  4,225  3,925  3,802  3,656  3,588  3,334  3,299  3,230  3,064  3,005  3,005  2,989 
Operating lease right-of-use assets 1,528  1,469  1,511  1,511  1,278  1,283  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Goodwill 18,707  18,698  18,708  18,707  18,708  18,698  18,672  18,642  18,747  12,455  12,455  12,456  12,453  12,454  12,450  12,464  12,463  12,462  12,460  12,458  12,464  12,464 
Intangible assets, net 909  974  1,040  1,123  1,206  1,289  1,372  1,460  1,329  —  —  —  —  —  —  —  —  —  —  —  —  — 
Deferred tax assets 346  355  508  83  85  84  94  69  179  474  475  1,200  1,385  1,416  1,462  1,239  1,375  1,383  1,409  1,352  1,383  1,393 
Other non-current assets 1,743  1,623  1,725  1,682  1,626  1,534  1,463  1,615  1,537  1,424  1,413  1,333  1,309  1,319  1,258  1,292  1,163  1,152  1,187  1,200  1,240  1,277 
Non-current assets 30,296  30,075  30,404  29,717  29,425  29,308  27,973  27,811  27,656  18,638  18,568  18,914  18,949  18,845  18,758  18,329  18,300  18,227  18,120  18,015  18,092  18,123 
Total assets 43,475  43,203  41,089  40,553  39,584  39,751  37,653  37,943  37,378  34,795  34,917  26,513  25,813  25,413  25,614  24,100  24,081  23,933  24,454  23,966  24,552  25,266 

Based on: 10-Q (filing date: 2020-07-30), 10-Q (filing date: 2020-04-29), 10-K (filing date: 2020-01-30), 10-Q (filing date: 2019-10-24), 10-Q (filing date: 2019-07-24), 10-Q (filing date: 2019-04-24), 10-K (filing date: 2019-01-31), 10-Q (filing date: 2018-10-24), 10-Q (filing date: 2018-07-25), 10-Q (filing date: 2018-04-25), 10-K (filing date: 2018-01-29), 10-Q (filing date: 2017-10-25), 10-Q (filing date: 2017-07-26), 10-Q (filing date: 2017-04-26), 10-K (filing date: 2017-01-30), 10-Q (filing date: 2016-10-26), 10-Q (filing date: 2016-07-27), 10-Q (filing date: 2016-04-27), 10-K (filing date: 2016-02-01), 10-Q (filing date: 2015-10-28), 10-Q (filing date: 2015-07-29), 10-Q (filing date: 2015-04-29).


Assets: Selected Items

Balance sheet item Description The company
Current assets Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Northrop Grumman Corp.’s current assets increased from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.
Property, plant and equipment, net of accumulated depreciation Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Northrop Grumman Corp.’s property, plant and equipment, net of accumulated depreciation increased from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.
Non-current assets Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer. Northrop Grumman Corp.’s non-current assets decreased from Q4 2019 to Q1 2020 but then increased from Q1 2020 to Q2 2020 not reaching Q4 2019 level.
Total assets Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Northrop Grumman Corp.’s total assets increased from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.

Current Assets: Selected Items

Balance sheet item Description The company
Cash and cash equivalents Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Northrop Grumman Corp.’s cash and cash equivalents increased from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.
Accounts receivable, net Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Northrop Grumman Corp.’s accounts receivable, net increased from Q4 2019 to Q1 2020 but then slightly decreased from Q1 2020 to Q2 2020.
Inventoried costs, net Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer. Northrop Grumman Corp.’s inventoried costs, net increased from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.