Balance Sheet: Liabilities and Stockholders’ Equity
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.

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 (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
Trade accounts payable	2,136)	2,587)	2,335)	2,098)	2,050)	2,197)	2,184)	2,001)	1,895)	1,806)	2,197)	2,006)	2,071)	2,226)	2,021)	1,962)	1,932)	2,182)	1,939)	1,824)	1,395)
Accrued employee compensation	1,646)	2,057)	1,831)	1,741)	1,532)	1,993)	1,811)	1,746)	1,542)	1,997)	1,847)	1,614)	1,472)	1,865)	1,744)	1,528)	1,404)	1,676)	1,645)	1,451)	1,204)
Advance payments and billings in excess of costs incurred	3,211)	3,609)	3,107)	2,734)	2,876)	3,026)	2,594)	2,526)	2,393)	2,517)	2,235)	2,179)	2,027)	2,237)	2,127)	1,942)	1,969)	1,917)	1,686)	1,711)	1,479)
Current portion of long-term debt	1,082)	1,072)	1,069)	14)	7)	6)	6)	6)	42)	742)	1,806)	1,803)	1,790)	1,109)	45)	545)	523)	517)	517)	744)	868)
Other current liabilities	2,408)	2,262)	2,470)	2,389)	2,385)	2,308)	2,224)	2,312)	2,495)	2,260)	2,024)	2,125)	2,817)	1,997)	2,479)	2,178)	2,993)	1,982)	2,252)	2,103)	1,469)
Liabilities of disposal group held for sale	—)	—)	—)	—)	—)	—)	—)	—)	—)	258)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Current liabilities	10,483)	11,587)	10,812)	8,976)	8,850)	9,530)	8,819)	8,591)	8,367)	9,580)	10,109)	9,727)	10,177)	9,434)	8,416)	8,155)	8,821)	8,274)	8,039)	7,833)	6,415)
Long-term debt, net of current portion	13,770)	11,805)	11,803)	12,834)	12,825)	12,777)	12,774)	12,764)	12,764)	14,261)	14,260)	14,259)	14,299)	12,770)	13,826)	13,838)	13,863)	13,883)	13,889)	14,387)	14,392)
Pension and other postretirement benefit plan liabilities	1,173)	1,188)	2,405)	2,692)	2,979)	3,269)	5,667)	5,942)	6,217)	6,498)	6,389)	6,582)	6,779)	6,979)	5,431)	5,535)	5,646)	5,755)	5,394)	5,755)	5,362)
Non-current operating lease liabilities	1,789)	1,824)	1,696)	1,654)	1,661)	1,590)	1,367)	1,389)	1,354)	1,343)	1,292)	1,333)	1,280)	1,308)	1,304)	1,081)	1,098)	—)	—)	—)	—)
Other non-current liabilities	1,893)	2,039)	2,074)	2,107)	2,301)	2,487)	2,302)	2,284)	2,196)	2,208)	2,255)	1,862)	1,606)	1,779)	1,845)	1,761)	1,584)	1,554)	1,518)	1,176)	946)
Non-current liabilities	18,625)	16,856)	17,978)	19,287)	19,766)	20,123)	22,110)	22,379)	22,531)	24,310)	24,196)	24,036)	23,964)	22,836)	22,406)	22,215)	22,191)	21,192)	20,801)	21,318)	20,700)
Total liabilities	29,108)	28,443)	28,790)	28,263)	28,616)	29,653)	30,929)	30,970)	30,898)	33,890)	34,305)	33,763)	34,141)	32,270)	30,822)	30,370)	31,012)	29,466)	28,840)	29,151)	27,115)
Preferred stock, $1 par value; no shares issued and outstanding	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Common stock, $1 par value	152)	153)	154)	155)	156)	156)	159)	160)	161)	167)	167)	167)	167)	168)	169)	169)	170)	171)	174)	174)	174)
Paid-in capital	—)	—)	—)	—)	—)	—)	—)	—)	8)	58)	27)	10)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Retained earnings	15,135)	15,312)	13,955)	13,655)	13,277)	12,913)	11,398)	11,144)	10,487)	10,482)	10,394)	9,652)	9,011)	8,748)	9,649)	9,120)	8,628)	8,068)	14,464)	13,669)	13,205)
Accumulated other comprehensive loss	(151)	(153)	(166)	(159)	(146)	(143)	(140)	(132)	(131)	(128)	(121)	(117)	(116)	(97)	(87)	(75)	(59)	(52)	(5,535)	(5,616)	(5,699)
Shareholders’ equity	15,136)	15,312)	13,943)	13,651)	13,287)	12,926)	11,417)	11,172)	10,525)	10,579)	10,467)	9,712)	9,062)	8,819)	9,731)	9,214)	8,739)	8,187)	9,103)	8,227)	7,680)
Total liabilities and shareholders’ equity	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)

Trade accounts payable: The values fluctuate over the years without a clear directional trend, peaking notably at $2,587 million in December 2022 before declining to $2,136 million in March 2023. This suggests variability in payments to suppliers possibly due to changes in purchasing or supply chain conditions.
Accrued employee compensation: This item exhibits a broadly increasing pattern, rising from $1,204 million in March 2018 to a peak of $2,057 million in December 2022, followed by a decline to $1,646 million in March 2023. The upward trend through 2021 and 2022 may reflect increasing labor costs or accrued bonuses, while the recent drop indicates a return to lower accumulation levels.
Advance payments and billings in excess of costs incurred: There is a consistent upward trend from approximately $1,479 million in early 2018 to a notable $3,609 million at December 2022, with a decrease to $3,211 million in March 2023. This could indicate increasing customer prepayments or contract billings exceeding recognized costs, reflective of strong order inflows or favorable contract terms lately.
Current portion of long-term debt: The amounts display significant volatility, with a striking decrease between mid-2019 and early 2021 (down to single-digit figures), followed by a sharp rise to over $1 billion by late 2022, remaining elevated into early 2023. This pattern suggests refinancing activities or shifts in debt maturity profiles affecting short-term obligations.
Other current liabilities: Values fluctuate but remain broadly stable around the $2,000-2,500 million range, with some peaks in 2019 and early 2020. The relative stability suggests consistent accrual of miscellaneous short-term obligations.
Current liabilities: Current liabilities exhibit an overall upward trajectory from approximately $6,415 million in March 2018 to a peak exceeding $11,500 million at December 2022. A slight decline to about $10,483 million is observed in March 2023. This growth is aligned with increased payables, accrued compensation, and advances, indicating expanding short-term financing or operational scale.
Long-term debt, net of current portion: This item remains relatively stable over time around $13,000 - $14,000 million initially, then declines to approximately $11,800 million from late 2021 through mid-2022, before rebounding to $13,770 million in March 2023. These shifts may relate to debt repayments, new issuances, or reclassification between current and non-current portions.
Pension and other postretirement benefit plan liabilities: A marked decreasing trend is evident, with figures falling from over $5,300 million in March 2018 to $1,173 million by March 2023. This sustained reduction likely reflects ongoing funding of pension obligations or actuarial adjustments reducing liabilities.
Non-current operating lease liabilities: Reported only from late 2018 onward, this liability gradually increases from about $1,098 million to $1,824 million in December 2022, with a slight decrease to $1,789 million in March 2023, indicating an expanding lease portfolio or the adoption of new lease accounting standards affecting long-term commitments.
Other non-current liabilities: These liabilities increase from $946 million in early 2018 to a peak near $2,487 million in late 2021, followed by a decline to $1,893 million in March 2023, suggesting variability in long-term accruals or contingent liabilities.
Non-current liabilities: Overall, non-current liabilities peaked above $24,000 million in 2020, then declined steadily to approximately $16,856 million by December 2022 before rising again to $18,625 million in March 2023. This trend reflects sizeable reductions in pension liabilities and long-term debt, offset by increased lease and other liabilities movement.
Total liabilities: Total liabilities increase from about $27,115 million in March 2018 to a peak of approximately $34,305 million in September 2020, followed by a general decline to near $28,443 million at December 2022 and a moderate uptick to $29,108 million in March 2023. The pattern signals a period of liability growth through 2020 with subsequent deleveraging or restructuring.
Common stock and Paid-in capital: Common stock shares slightly decline over time from 174 million par value in 2018 to 152 million in 2023, indicating possible buybacks or retirements. Paid-in capital shows limited data but includes a spike in 2020, potentially reflecting equity transactions during that period.
Retained earnings: Retained earnings show a general upward progression from $13,205 million in early 2018 to $15,312 million by December 2022, with a small decrease to $15,135 million in March 2023. The overall increase suggests sustained profitability and accumulation of earnings over the period despite some volatility.
Accumulated other comprehensive loss: This item remains a consistent loss, fluctuating narrowly around -$150 million in recent periods, improving from larger negative balances near -$5,700 million in 2018. The improvement suggests reductions in unrealized losses or other comprehensive expense components over time.
Shareholders’ equity: Shareholders’ equity generally increases from about $7,680 million in early 2018 to $15,312 million by late 2022, then slightly falls to $15,136 million in March 2023. This doubling indicates growth in net assets, supported by retained earnings and other equity components.
Total liabilities and shareholders’ equity: The total grows steadily from roughly $34,795 million in early 2018 to $44,244 million by March 2023. This reflects expansion in the company’s balance sheet driven by increases in liabilities and equity, aligned with the trends in liabilities and shareholders’ equity described.

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Northrop Grumman Corp. (NYSE:NOC)

Balance Sheet: Liabilities and Stockholders’ Equity Quarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data