NORTHROP GRUMMAN CORP DE
For the period ended Dec 31, 2023. Filed Jan 25, 2024.
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FY2023 · Filed Jan 25, 2024
NOC$548.61+1.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| $ in millions | 2023 | 2022 | 2021 |
|---|---|---|---|
| Operating activities | |||
| Net earnings | $2,056 | $4,896 | $7,005 |
| Adjustments to reconcile to net cash provided by operating activities: | |||
| Depreciation and amortization | 1,338 | 1,342 | 1,239 |
| Mark-to-market pension and OPB expense (benefit) | 422 | (1,232) | (2,355) |
| Stock-based compensation | 87 | 99 | 94 |
| Deferred income taxes | (988) | (321) | 603 |
| Gain on sale of business | — | — | (1,980) |
| B-21 charge | 1,559 | — | — |
| Net periodic pension and OPB income | (308) | (1,193) | (1,091) |
| Pension and OPB contributions | (139) | (136) | (141) |
| Changes in assets and liabilities: | |||
| Accounts receivable, net | 54 | (44) | (10) |
| Unbilled receivables, net | 247 | (646) | (414) |
| Inventoried costs, net | (220) | (205) | (52) |
| Prepaid expenses and other assets | (86) | 2 | 66 |
| Accounts payable and other liabilities | 519 | 572 | 376 |
| Income taxes payable, net | (658) | (279) | 215 |
| Other, net | (8) | 46 | 12 |
| Net cash provided by operating activities | 3,875 | 2,901 | 3,567 |
| Investing activities | |||
| Divestiture of IT services business | — | — | 3,400 |
| Capital expenditures | (1,775) | (1,435) | (1,415) |
| Proceeds from sale of equipment to a customer | — | 155 | 84 |
| Proceeds from sale of minority investments | 197 | — | — |
| Other, net | (4) | 39 | (11) |
| Net cash (used in) provided by investing activities | (1,582) | (1,241) | 2,058 |
| Financing activities | |||
| Net proceeds from issuance of long-term debt | 1,995 | — | — |
| Payments of long-term debt | (1,050) | — | (2,236) |
| Common stock repurchases | (1,500) | (1,504) | (3,705) |
| Cash dividends paid | (1,116) | (1,052) | (983) |
| Payments of employee taxes withheld from share-based awards | (52) | (50) | (34) |
| Other, net | (38) | (7) | (44) |
| Net cash used in financing activities | (1,761) | (2,613) | (7,002) |
| Increase (decrease) in cash and cash equivalents | 532 | (953) | (1,377) |
| Cash and cash equivalents, beginning of year | 2,577 | 3,530 | 4,907 |
| Cash and cash equivalents, end of year | $3,109 | $2,577 | $3,530 |
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