NORTHROP GRUMMAN CORP /DE/
For the period ended Dec 31, 2025. Filed Jan 27, 2026.
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FY2025 · Filed Jan 27, 2026
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5. Inventoried Costs, Net
- INVENTORIED COSTS, NET
Inventoried costs, net are principally associated with contracts where the U.S. government is the primary customer, therefore the company does not believe it has significant exposure to recoverability risk related to these amounts. Inventoried costs associated with our commercial businesses, while less significant in total, are subject to a greater level of recoverability risk.
Inventoried costs, net consisted of the following:
| $ in millions | 2025 | 2024 |
|---|---|---|
| Raw materials | $306 | $293 |
| Work in process | 945 | 1,118 |
| Finished goods | 58 | 44 |
| Inventoried costs, net | $1,309 | $1,455 |
Inventoried costs, net decreased $146 million, or 10 percent, largely due to the liquidation of costs, which were previously incurred and inventoried for specific anticipated contracts, upon receipt of those contract awards.
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