Stock Analysis on Net
Stock Analysis on Net

Northrop Grumman Corp. (NYSE:NOC)

Cash Flow Statement
Quarterly Data

Beginner level

The cash flow statement provides information about a company’s cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company’s balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Northrop Grumman Corp., consolidated cash flow statement (quarterly data)

US$ in millions

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3 months ended: 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 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
Net earnings 986  1,005  868  (409) 933  861  863  356  1,244  789  840  178  645  552  640  525  602  517  556  459  516  531  484 
Depreciation and amortization 317  308  297  281  258  245  234  266  253  159  122  153  111  107  104  134  113  106  103  138  113  117  99 
Non-cash lease expense —  —  —  60  60  59  68  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Mark-to-market pension and OPB expense (benefit) —  —  —  1,800  —  —  —  655  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Stock-based compensation 25  18  18  34  38  29  26  29  34  19  28  24  25  17  32  24  23  14  29  23  23  24 
Excess tax benefits from stock-based compensation —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  (5) (1) (105)
Deferred income taxes 200  13  156  (533) (24) 15  33  (41) 226  71  (22) 524  126  (31) (16) 49  76  (54) (35) 407  26  (65) 204 
Accounts receivable, net 31  147  (810) 785  (279) 334  (718) 254  93  42  (187) 438  (134) (208) (773) 369  (183) (133) (514) 433  (119) (19) (325)
Unbilled receivables, net (260) 458  (584) 443  (120) 101  (759) 601  (328) (166) (404) —  —  —  —  —  —  —  —  —  —  —  — 
Inventoried costs, net (21) (47) (2) 21  —  (32) (124) 65  (29) (36) (37) 227  32  (106) (117) (29) 184  (81) (89) 50  (13) (41) (76)
Prepaid expenses and other assets (106) (72) 56  (33) (25) (23) 53  (166) 44  13  (61) 21  (46) 34  (151) 11  (4) 16  (21) 32  16 
Accounts payable and other liabilities 657  459  (833) 297  687  113  (480) 506  297  168  (590) 580  269  156  (466) 490  (5) 77  (364) 326  (88) 19  (889)
Income taxes payable, net (219) 320  10  (29) (228) 54  140  (144) (300) (11) 197  (99) (148) (62) 152  (70) (7) 51  174  (268) 89  (52) 366 
Retiree benefits (231) (236) (237) (281) (137) (143) (142) (236) (453) (204) (190) (426) 70  79  86  75  109  104  105  55  60  62  (440)
Changes in assets and liabilities (149) 1,029  (2,400) 1,239  (110) 402  (2,106) 1,099  (886) (163) (1,198) 725  28  (120) (1,164) 869  (53) 29  (692) 612  (92) (1,348)
Other, net (20) (36) 68  (8) (16) (4) (31) 38  (54) (15) (1) (26) (20) (78) (24) (17) (6) (20) (24) 20  (12)
Adjustments to reconcile to net cash provided by (used in) operating activities 373  1,332  (1,861) 2,873  206  746  (1,776) 2,021  (432) 86  (1,077) 1,429  293  (45) (1,079) 1,006  136  87  (616) 1,174  41  95  (1,138)
Net cash provided by (used in) operating activities 1,359  2,337  (993) 2,464  1,139  1,607  (913) 2,377  812  875  (237) 1,607  938  507  (439) 1,531  738  604  (60) 1,633  557  626  (654)
Acquisition of Orbital ATK, net of cash acquired —  —  —  —  —  —  —  —  —  (7,657) —  —  —  —  —  —  —  —  —  —  —  —  — 
Capital expenditures (287) (269) (272) (471) (257) (252) (284) (463) (282) (199) (305) (278) (217) (217) (216) (312) (137) (173) (298) (137) (102) (115) (117)
Other, net (2) —  49  (3) 21  (2) 18  14  112  —  38  (4)
Net cash used in investing activities (289) (269) (270) (422) (250) (255) (280) (458) (261) (7,852) (307) (260) (203) (212) (214) (200) (136) (171) (298) (133) (64) (119) (115)
Net proceeds from issuance of long-term debt —  —  2,239  —  —  —  —  —  —  —  —  8,245  —  —  —  749  —  —  —  —  —  —  600 
Payments of long-term debt (27) —  —  —  (500) —  —  —  (726) (1,550) —  —  —  —  —  (214) —  —  (107) —  —  —  — 
Net proceeds from (payments to) credit facilities —  (6) (7) —  (11) —  (20) (6) —  (300) (14) (13) —  —  —  135  —  —  —  —  —  —  — 
Net borrowings on (repayments of) commercial paper —  (744) 744  (399) 100  (713) 814  (301) 250  249  —  —  —  —  —  —  —  —  —  —  —  —  — 
Common stock repurchases —  (146) (344) (300) (213) (171) (60) (1,054) (168) (41) —  —  (26) (138) (229) (398) (467) (400) (282) (318) (948) (1,091) (825)
Cash dividends paid (242) (242) (227) (222) (223) (224) (211) (205) (209) (209) (198) (174) (174) (175) (166) (158) (160) (163) (159) (145) (149) (153) (156)
Payments of employee taxes withheld from share-based awards (2) (1) (63) (2) —  (2) (61) (1) (4) (1) (79) (1) —  (1) (90) (1) (2) (13) (137) (3) (11) (1) (171)
Other, net 18  (29) (46) (1) (3) (2) —  (1) (5) (1) (21) (57) (40) (1) —  (6) (9) (7) —  (1) 104 
Net cash provided by (used in) financing activities (253) (1,168) 2,296  (924) (850) (1,112) 462  (1,568) (862) (1,853) (312) 8,000  (240) (315) (485) 107  (638) (571) (684) (473) (1,108) (1,246) (448)
Increase (decrease) in cash and cash equivalents 817  900  1,033  1,118  39  240  (731) 351  (311) (8,830) (856) 9,347  495  (20) (1,138) 1,438  (36) (138) (1,042) 1,027  (615) (739) (1,217)

Based on: 10-Q (filing date: 2020-10-22), 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).

Cash flow statement item Description The company
Net cash provided by (used in) operating activities Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Northrop Grumman Corp.’s net cash provided by (used in) operating activities increased from Q1 2020 to Q2 2020 but then slightly decreased from Q2 2020 to Q3 2020.
Net cash used in investing activities Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Northrop Grumman Corp.’s net cash used in investing activities increased from Q1 2020 to Q2 2020 but then decreased significantly from Q2 2020 to Q3 2020.
Net cash provided by (used in) financing activities Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Northrop Grumman Corp.’s net cash provided by (used in) financing activities decreased from Q1 2020 to Q2 2020 but then slightly increased from Q2 2020 to Q3 2020.