Stock Analysis on Net

Northrop Grumman Corp. (NYSE:NOC)

Balance Sheet: Liabilities and Stockholders’ Equity 

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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Northrop Grumman Corp., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Trade accounts payable 2,587 2,197 1,806 2,226 2,182
Accrued employee compensation 2,057 1,993 1,997 1,865 1,676
Advance payments and billings in excess of costs incurred 3,609 3,026 2,517 2,237 1,917
Current portion of long-term debt 1,072 6 742 1,109 517
Other current liabilities 2,262 2,308 2,260 1,997 1,982
Liabilities of disposal group held for sale 258
Current liabilities 11,587 9,530 9,580 9,434 8,274
Long-term debt, net of current portion 11,805 12,777 14,261 12,770 13,883
Pension and other postretirement benefit plan liabilities 1,188 3,269 6,498 6,979 5,755
Non-current operating lease liabilities 1,824 1,590 1,343 1,308
Deferred tax liabilities 132 490 108
Other non-current liabilities 1,907 1,997 2,208 1,779 1,446
Non-current liabilities 16,856 20,123 24,310 22,836 21,192
Total liabilities 28,443 29,653 33,890 32,270 29,466
Preferred stock, $1 par value; no shares issued and outstanding
Common stock, $1 par value 153 156 167 168 171
Paid-in capital 58
Retained earnings 15,312 12,913 10,482 8,748 8,068
Accumulated other comprehensive loss (153) (143) (128) (97) (52)
Shareholders’ equity 15,312 12,926 10,579 8,819 8,187
Total liabilities and shareholders’ equity 43,755 42,579 44,469 41,089 37,653

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

Balance sheet item Description The company
Current liabilities Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Northrop Grumman Corp. current liabilities decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level.
Non-current liabilities Amount of obligation due after one year or beyond the normal operating cycle, if longer. Northrop Grumman Corp. non-current liabilities decreased from 2020 to 2021 and from 2021 to 2022.
Total liabilities Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Northrop Grumman Corp. total liabilities decreased from 2020 to 2021 and from 2021 to 2022.
Shareholders’ equity Total of all stockholders’ equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity stockholders’ equity attributable to the parent excludes the amount of stockholders’ equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Northrop Grumman Corp. shareholders’ equity increased from 2020 to 2021 and from 2021 to 2022.