Analysis of Reportable Segments
Northrop Grumman Corp. operates in 4 segments: Aeronautics Systems; Defense Systems; Mission Systems; and Space Systems.
Segment Profit Margin
Northrop Grumman Corp., profit margin by reportable segment
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Aeronautics Systems | 10.60% | 9.71% | 9.91% | 10.69% | 10.96% |
| Defense Systems | 11.90% | 12.05% | 11.22% | 10.58% | 10.54% |
| Mission Systems | 15.56% | 15.58% | 14.47% | 14.96% | 13.91% |
| Space Systems | 9.43% | 10.57% | 10.21% | 10.69% | 11.02% |
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).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Aeronautics Systems | Aeronautics Systems segment profit margin ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |
| Defense Systems | Defense Systems segment profit margin ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022. | |
| Mission Systems | Mission Systems segment profit margin ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022. | |
| Space Systems | Space Systems segment profit margin ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |
Segment Profit Margin: Aeronautics Systems
Northrop Grumman Corp.; Aeronautics Systems; segment profit margin calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income | 1,116) | 1,093) | 1,206) | 1,188) | 1,128) |
| Sales | 10,531) | 11,259) | 12,169) | 11,116) | 10,293) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 10.60% | 9.71% | 9.91% | 10.69% | 10.96% |
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).
1 2022 Calculation
Segment profit margin = 100 × Operating income ÷ Sales
= 100 × 1,116 ÷ 10,531 = 10.60%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Aeronautics Systems | Aeronautics Systems segment profit margin ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |
Segment Profit Margin: Defense Systems
Northrop Grumman Corp.; Defense Systems; segment profit margin calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income | 664) | 696) | 846) | 793) | 697) |
| Sales | 5,579) | 5,776) | 7,543) | 7,495) | 6,612) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 11.90% | 12.05% | 11.22% | 10.58% | 10.54% |
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).
1 2022 Calculation
Segment profit margin = 100 × Operating income ÷ Sales
= 100 × 664 ÷ 5,579 = 11.90%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Defense Systems | Defense Systems segment profit margin ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022. |
Segment Profit Margin: Mission Systems
Northrop Grumman Corp.; Mission Systems; segment profit margin calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income | 1,618) | 1,579) | 1,459) | 1,408) | 1,245) |
| Sales | 10,396) | 10,134) | 10,080) | 9,410) | 8,949) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 15.56% | 15.58% | 14.47% | 14.96% | 13.91% |
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).
1 2022 Calculation
Segment profit margin = 100 × Operating income ÷ Sales
= 100 × 1,618 ÷ 10,396 = 15.56%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Mission Systems | Mission Systems segment profit margin ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022. |
Segment Profit Margin: Space Systems
Northrop Grumman Corp.; Space Systems; segment profit margin calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income | 1,158) | 1,121) | 893) | 794) | 644) |
| Sales | 12,275) | 10,608) | 8,744) | 7,425) | 5,845) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 9.43% | 10.57% | 10.21% | 10.69% | 11.02% |
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).
1 2022 Calculation
Segment profit margin = 100 × Operating income ÷ Sales
= 100 × 1,158 ÷ 12,275 = 9.43%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Space Systems | Space Systems segment profit margin ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |
Segment Return on Assets (Segment ROA)
Northrop Grumman Corp., ROA by reportable segment
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Aeronautics Systems | 11.50% | 11.60% | 13.40% | 13.05% | — |
| Defense Systems | 10.77% | 11.77% | 11.51% | 10.69% | — |
| Mission Systems | 15.99% | 16.00% | 14.55% | 14.17% | — |
| Space Systems | 10.03% | 10.42% | 8.91% | 7.49% | — |
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).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Aeronautics Systems | Aeronautics Systems segment ROA deteriorated from 2020 to 2021 and from 2021 to 2022. |
| Defense Systems | Defense Systems segment ROA improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. | |
| Mission Systems | Mission Systems segment ROA improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022. | |
| Space Systems | Space Systems segment ROA improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022. |
Segment ROA: Aeronautics Systems
Northrop Grumman Corp.; Aeronautics Systems; segment ROA calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income | 1,116) | 1,093) | 1,206) | 1,188) | 1,128) |
| Assets | 9,701) | 9,423) | 8,997) | 9,104) | —) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 11.50% | 11.60% | 13.40% | 13.05% | — |
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).
1 2022 Calculation
Segment ROA = 100 × Operating income ÷ Assets
= 100 × 1,116 ÷ 9,701 = 11.50%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Aeronautics Systems | Aeronautics Systems segment ROA deteriorated from 2020 to 2021 and from 2021 to 2022. |
Segment ROA: Defense Systems
Northrop Grumman Corp.; Defense Systems; segment ROA calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income | 664) | 696) | 846) | 793) | 697) |
| Assets | 6,163) | 5,911) | 7,352) | 7,420) | —) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 10.77% | 11.77% | 11.51% | 10.69% | — |
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).
1 2022 Calculation
Segment ROA = 100 × Operating income ÷ Assets
= 100 × 664 ÷ 6,163 = 10.77%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Defense Systems | Defense Systems segment ROA improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |
Segment ROA: Mission Systems
Northrop Grumman Corp.; Mission Systems; segment ROA calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income | 1,618) | 1,579) | 1,459) | 1,408) | 1,245) |
| Assets | 10,120) | 9,869) | 10,029) | 9,934) | —) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 15.99% | 16.00% | 14.55% | 14.17% | — |
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).
1 2022 Calculation
Segment ROA = 100 × Operating income ÷ Assets
= 100 × 1,618 ÷ 10,120 = 15.99%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Mission Systems | Mission Systems segment ROA improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022. |
Segment ROA: Space Systems
Northrop Grumman Corp.; Space Systems; segment ROA calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income | 1,158) | 1,121) | 893) | 794) | 644) |
| Assets | 11,540) | 10,760) | 10,028) | 10,595) | —) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 10.03% | 10.42% | 8.91% | 7.49% | — |
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).
1 2022 Calculation
Segment ROA = 100 × Operating income ÷ Assets
= 100 × 1,158 ÷ 11,540 = 10.03%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Space Systems | Space Systems segment ROA improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022. |
Segment Asset Turnover
Northrop Grumman Corp., asset turnover by reportable segment
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Aeronautics Systems | 1.09 | 1.19 | 1.35 | 1.22 | — |
| Defense Systems | 0.91 | 0.98 | 1.03 | 1.01 | — |
| Mission Systems | 1.03 | 1.03 | 1.01 | 0.95 | — |
| Space Systems | 1.06 | 0.99 | 0.87 | 0.70 | — |
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).
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Aeronautics Systems | Aeronautics Systems segment asset turnover ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |
| Defense Systems | Defense Systems segment asset turnover ratio deteriorated from 2020 to 2021 and from 2021 to 2022. | |
| Mission Systems | Mission Systems segment asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022. | |
| Space Systems | Space Systems segment asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022. |
Segment Asset Turnover: Aeronautics Systems
Northrop Grumman Corp.; Aeronautics Systems; segment asset turnover calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Sales | 10,531) | 11,259) | 12,169) | 11,116) | 10,293) |
| Assets | 9,701) | 9,423) | 8,997) | 9,104) | —) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 1.09 | 1.19 | 1.35 | 1.22 | — |
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).
1 2022 Calculation
Segment asset turnover = Sales ÷ Assets
= 10,531 ÷ 9,701 = 1.09
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Aeronautics Systems | Aeronautics Systems segment asset turnover ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |
Segment Asset Turnover: Defense Systems
Northrop Grumman Corp.; Defense Systems; segment asset turnover calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Sales | 5,579) | 5,776) | 7,543) | 7,495) | 6,612) |
| Assets | 6,163) | 5,911) | 7,352) | 7,420) | —) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.91 | 0.98 | 1.03 | 1.01 | — |
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).
1 2022 Calculation
Segment asset turnover = Sales ÷ Assets
= 5,579 ÷ 6,163 = 0.91
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Defense Systems | Defense Systems segment asset turnover ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |
Segment Asset Turnover: Mission Systems
Northrop Grumman Corp.; Mission Systems; segment asset turnover calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Sales | 10,396) | 10,134) | 10,080) | 9,410) | 8,949) |
| Assets | 10,120) | 9,869) | 10,029) | 9,934) | —) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 1.03 | 1.03 | 1.01 | 0.95 | — |
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).
1 2022 Calculation
Segment asset turnover = Sales ÷ Assets
= 10,396 ÷ 10,120 = 1.03
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Mission Systems | Mission Systems segment asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022. |
Segment Asset Turnover: Space Systems
Northrop Grumman Corp.; Space Systems; segment asset turnover calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Sales | 12,275) | 10,608) | 8,744) | 7,425) | 5,845) |
| Assets | 11,540) | 10,760) | 10,028) | 10,595) | —) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 1.06 | 0.99 | 0.87 | 0.70 | — |
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).
1 2022 Calculation
Segment asset turnover = Sales ÷ Assets
= 12,275 ÷ 11,540 = 1.06
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Space Systems | Space Systems segment asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022. |
Segment Capital Expenditures to Depreciation
Northrop Grumman Corp., capital expenditures to depreciation by reportable segment
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Aeronautics Systems | 1.52 | 2.15 | 2.27 | 2.36 | 3.46 |
| Defense Systems | 1.09 | 2.96 | 1.63 | 1.61 | 1.02 |
| Mission Systems | 1.02 | 1.39 | 2.01 | 1.72 | 1.63 |
| Space Systems | 1.34 | 2.15 | 2.09 | 1.86 | 1.74 |
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).
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Aeronautics Systems | Aeronautics Systems segment capital expenditures to depreciation ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |
| Defense Systems | Defense Systems segment capital expenditures to depreciation ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. | |
| Mission Systems | Mission Systems segment capital expenditures to depreciation ratio deteriorated from 2020 to 2021 and from 2021 to 2022. | |
| Space Systems | Space Systems segment capital expenditures to depreciation ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |
Segment Capital Expenditures to Depreciation: Aeronautics Systems
Northrop Grumman Corp.; Aeronautics Systems; segment capital expenditures to depreciation calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 490) | 465) | 540) | 528) | 657) |
| Depreciation and amortization | 322) | 216) | 238) | 224) | 190) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.52 | 2.15 | 2.27 | 2.36 | 3.46 |
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).
1 2022 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation and amortization
= 490 ÷ 322 = 1.52
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Aeronautics Systems | Aeronautics Systems segment capital expenditures to depreciation ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |
Segment Capital Expenditures to Depreciation: Defense Systems
Northrop Grumman Corp.; Defense Systems; segment capital expenditures to depreciation calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 110) | 133) | 78) | 71) | 66) |
| Depreciation and amortization | 101) | 45) | 48) | 44) | 65) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.09 | 2.96 | 1.63 | 1.61 | 1.02 |
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).
1 2022 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation and amortization
= 110 ÷ 101 = 1.09
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Defense Systems | Defense Systems segment capital expenditures to depreciation ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |
Segment Capital Expenditures to Depreciation: Mission Systems
Northrop Grumman Corp.; Mission Systems; segment capital expenditures to depreciation calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 248) | 236) | 302) | 229) | 197) |
| Depreciation and amortization | 242) | 170) | 150) | 133) | 121) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.02 | 1.39 | 2.01 | 1.72 | 1.63 |
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).
1 2022 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation and amortization
= 248 ÷ 242 = 1.02
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Mission Systems | Mission Systems segment capital expenditures to depreciation ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |
Segment Capital Expenditures to Depreciation: Space Systems
Northrop Grumman Corp.; Space Systems; segment capital expenditures to depreciation calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 529) | 530) | 440) | 352) | 226) |
| Depreciation and amortization | 396) | 247) | 211) | 189) | 130) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.34 | 2.15 | 2.09 | 1.86 | 1.74 |
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).
1 2022 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation and amortization
= 529 ÷ 396 = 1.34
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Space Systems | Space Systems segment capital expenditures to depreciation ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |
Sales
Northrop Grumman Corp., sales by reportable segment
US$ in millions
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Aeronautics Systems | 10,531) | 11,259) | 12,169) | 11,116) | 10,293) |
| Defense Systems | 5,579) | 5,776) | 7,543) | 7,495) | 6,612) |
| Mission Systems | 10,396) | 10,134) | 10,080) | 9,410) | 8,949) |
| Space Systems | 12,275) | 10,608) | 8,744) | 7,425) | 5,845) |
| Intersegment eliminations | (2,179) | (2,110) | (1,737) | (1,605) | (1,604) |
| Total | 36,602) | 35,667) | 36,799) | 33,841) | 30,095) |
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).
Operating income
Northrop Grumman Corp., operating income by reportable segment
US$ in millions
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Aeronautics Systems | 1,116) | 1,093) | 1,206) | 1,188) | 1,128) |
| Defense Systems | 664) | 696) | 846) | 793) | 697) |
| Mission Systems | 1,618) | 1,579) | 1,459) | 1,408) | 1,245) |
| Space Systems | 1,158) | 1,121) | 893) | 794) | 644) |
| Intersegment eliminations | (303) | (272) | (216) | (205) | (200) |
| Total | 4,253) | 4,217) | 4,188) | 3,978) | 3,514) |
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).
Assets
Northrop Grumman Corp., assets by reportable segment
US$ in millions
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Aeronautics Systems | 9,701) | 9,423) | 8,997) | 9,104) | —) |
| Defense Systems | 6,163) | 5,911) | 7,352) | 7,420) | —) |
| Mission Systems | 10,120) | 9,869) | 10,029) | 9,934) | —) |
| Space Systems | 11,540) | 10,760) | 10,028) | 10,595) | —) |
| Corporate | 6,231) | 6,616) | 8,063) | 4,036) | —) |
| Total | 43,755) | 42,579) | 44,469) | 41,089) | —) |
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).
Capital expenditures
Northrop Grumman Corp., capital expenditures by reportable segment
US$ in millions
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Aeronautics Systems | 490) | 465) | 540) | 528) | 657) |
| Defense Systems | 110) | 133) | 78) | 71) | 66) |
| Mission Systems | 248) | 236) | 302) | 229) | 197) |
| Space Systems | 529) | 530) | 440) | 352) | 226) |
| Corporate | 58) | 51) | 60) | 84) | 103) |
| Total | 1,435) | 1,415) | 1,420) | 1,264) | 1,249) |
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).
Depreciation and amortization
Northrop Grumman Corp., depreciation and amortization by reportable segment
US$ in millions
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Aeronautics Systems | 322) | 216) | 238) | 224) | 190) |
| Defense Systems | 101) | 45) | 48) | 44) | 65) |
| Mission Systems | 242) | 170) | 150) | 133) | 121) |
| Space Systems | 396) | 247) | 211) | 189) | 130) |
| Corporate | 281) | 295) | 358) | 428) | 294) |
| Total | 1,342) | 973) | 1,005) | 1,018) | 800) |
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).