EX-99.1 3 v42444exv99w1.htm EXHIBIT 99.1 exv99w1
NORTHROP GRUMMAN CORPORATION
EXHIBIT 99.1
Item 6. Selected Financial Data
The data presented in the following table are derived from the audited financial statements and other company information adjusted to reflect the current application of discontinued operations as well as the two-for one stock split of the company’s common stock in 2004. See also Business Acquisitions and Business Dispositions in Item 7.
Selected Financial Data
                                         
    Year ended December 31
$ in millions except per share   2007     2006     2005     2004     2003  
 
Sales and Service Revenues
                                        
United States Government
   $ 28,562     $ 26,920     $ 26,937     $ 25,419     $ 21,979  
Other customers
     3,266       3,071       2,927       3,345       3,358  
 
Total revenues
   $ 31,828     $ 29,991     $ 29,864     $ 28,764     $ 25,337  
 
Operating margin
   $ 3,018     $ 2,494     $ 2,227     $ 1,987     $ 1,473  
Income from continuing operations
     1,811       1,593       1,413       1,080       770  
 
Basic earnings per share, from continuing operations
   $ 5.30     $ 4.61     $ 3.96     $ 3.00     $ 2.11  
Diluted earnings per share, from continuing operations
     5.18       4.51       3.89       2.96       2.09  
Cash dividends declared per common share
     1.48       1.16       1.01       .89       .80  
 
Year-End Financial Position
                                        
Total assets
   $ 33,373     $ 32,009     $ 34,214     $ 33,303     $ 33,022  
Notes payable to banks and long-term debt
     4,055       4,162       5,145       5,158       5,891  
Total long-term obligations and preferred stock
     9,254       8,641       9,412       10,438       10,876  
 
Financial Metrics
                                        
Free cash flow from operations
   $ 2,071     $ 947     $ 1,811     $ 1,266     $ 162  
Net working capital (deficit)
     365       (4 )     (397 )     707       (580 )
Current ratio
   1.06 to 1     1.00 to 1       .95 to 1       1.11 to 1       .91 to 1  
Notes payable to banks and long-term debt as a percentage of shareholders’ equity
     22.9 %     25.0 %     30.6 %     30.9 %     37.3 %
 
Other Information
                                        
Company-sponsored research and development expenses
   $ 534     $ 569     $ 533     $ 501     $ 425  
Maintenance and repairs
     335       358       428       394       241  
Payroll and employee benefits
     12,888       12,455       12,140       12,398       10,888  
 
Number of employees at year-end
     121,700       121,400       122,800       124,600       122,600  
 

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