NORTHROP GRUMMAN CORP DE
For the period ended Dec 31, 2024. Filed Jan 30, 2025.
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FY2024 · Filed Jan 30, 2025
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Backlog
Backlog represents the future sales we expect to recognize on firm orders received by the company and is equivalent to the company’s remaining performance obligations at the end of each period. It comprises both funded backlog (firm orders for which funding is authorized and appropriated) and unfunded backlog. Unexercised contract options and indefinite delivery indefinite quantity (IDIQ) contracts are not included in backlog until the time the option or IDIQ task order is exercised or awarded. Backlog is converted into sales as costs are incurred or deliveries are made.
Backlog consisted of the following at December 31, 2024 and 2023:
| 2024 · 2023 | |||||
|---|---|---|---|---|---|
| $ in millions | Funded | Unfunded | TotalBacklog | TotalBacklog | % Change in 2024 |
| Aeronautics Systems | $10,689 | $13,409 | $24,098 | $19,583 | 23% |
| Defense Systems | 9,873 | 17,845 | 27,718 | 20,198 | 37% |
| Mission Systems | 11,574 | 4,869 | 16,443 | 16,108 | 2% |
| Space Systems | 7,526 | 15,683 | 23,209 | 28,341 | (18)% |
| Total backlog | $39,662 | $51,806 | $91,468 | $84,230 | 9% |
2024 net awards totaled $50.6 billion. Significant 2024 new awards include $11.8 billion for restricted programs (primarily at Aeronautics Systems, Mission Systems, and Space Systems), $3.5 billion for the Take Charge and Move Out (TACAMO) mission, $3.5 billion for F-35 (primarily at Aeronautics Systems), $2.4 billion for E-2, $1.8 billion for Next-Gen OPIR Polar, $0.9 billion for Poland IBCS, and $0.8 billion for certain military ammunition programs.
During 2024, the company reduced unfunded backlog by $1.6 billion and $0.7 billion related to terminations for convenience in our restricted space business and on the NGI program at Space Systems, respectively.
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