Northrop Grumman (NOC) 10-Q 25 Apr 24 2024 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	3 Months Ended
	Mar. 31, 2024	Apr. 22, 2024
Document and Entity Information [Abstract]
Entity Current Reporting Status	Yes
Document Type	10-Q
Document Fiscal Period Focus	Q1
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Amendment Flag	false
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity File Number	1-16411
Entity Registrant Name	NORTHROP GRUMMAN CORP /DE/
Entity Central Index Key	0001133421
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	80-0640649
Entity Address, Line 1	2980 Fairview Park Drive
Entity Address, City Or Town	Falls Church,
Entity Address, State Or Province	VA
Entity Address, Postal ZIP Code	22042
City Area Code	703
Local Phone Number	280-2900
Title of 12(b) Security	Common Stock
Trading Symbol	NOC
Security Exchange Name	NYSE
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		147,989,969

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings and Comprehensive Income (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenues	$ 10,133	$ 9,301
Operating costs and expenses
General and administrative expenses	1,062	1,038
Total operating costs and expenses	9,062	8,354
Operating income	1,071	947
Other (expense) income
Interest expense	(146)	(129)
Non-operating FAS pension benefit	168	132
Other, net	38	48
Earnings before income taxes	1,131	998
Federal and foreign income tax expense	187	156
Net earnings	$ 944	$ 842
Basic earnings per share
Basic earnings per share	$ 6.34	$ 5.52
Weighted-average common shares outstanding, in millions	148.9	152.6
Diluted earnings per share
Diluted earnings per share	$ 6.32	$ 5.50
Weighted-average diluted shares outstanding, in millions	149.3	153.2
Net earnings (from above)	$ 944	$ 842
Change in cumulative translation adjustment	(1)	(2)
Change in other, net	(16)	0
Other comprehensive (loss) income, net of tax	(15)	2
Comprehensive income	929	844
Product [Member]
Revenues	8,102	7,271
Cost of Sales	6,411	5,727
Service [Member]
Revenues	2,031	2,030
Cost of Sales	$ 1,589	$ 1,589

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Financial Position (Unaudited) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents	$ 3,061	$ 3,109
Accounts receivable, net	1,832	1,454
Unbilled receivables, net	6,450	5,693
Inventoried costs, net	1,370	1,109
Prepaid expenses and other current assets	2,083	2,341
Total current assets	14,796	13,706
Property, plant and equipment, net of accumulated depreciation of $8,149 for 2024 and $7,964 for 2023	9,690	9,653
Operating lease right-of-use assets	1,763	1,818
Goodwill	17,515	17,517
Intangible assets, net	290	305
Deferred tax assets	1,123	1,020
Other non-current assets	2,641	2,525
Total assets	47,818	46,544
Liabilities
Trade accounts payable	2,580	2,110
Accrued employee compensation	1,701	2,251
Advance payments and billings in excess of costs incurred	3,530	4,193
Other current liabilities	5,321	3,388
Total current liabilities	13,132	11,942
Long-term debt, net of current portion of $1,582 for 2024 and $70 for 2023	14,742	13,786
Pension and other postretirement benefit plan liabilities	1,250	1,290
Operating lease liabilities	1,830	1,892
Other non-current liabilities	2,641	2,839
Total liabilities	33,595	31,749
Commitments and Contingencies
Shareholders’ equity
Preferred stock, $1 par value; 10,000,000 shares authorized; no shares issued and outstanding	0	0
Common stock, $1 par value; 800,000,000 shares authorized; issued and outstanding: 2024—148,088,480 and 2023—150,109,271	148	150
Paid-in capital	0	0
Retained earnings	14,218	14,773
Accumulated other comprehensive loss	(143)	(128)
Total shareholders’ equity	14,223	14,795
Total liabilities and shareholders’ equity	$ 47,818	$ 46,544

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Financial Position (Unaudited) (Parentheticals) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Accumulated Depreciation	$ 8,149	$ 7,964
Long-term Debt, Current Maturities	$ 1,582	$ 70
Preferred Stock, Par Value	$ 1	$ 1
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Par or Stated Value Per Share	$ 1	$ 1
Common Stock, Shares Authorized	800,000,000	800,000,000
Common Stock, Shares, Issued	148,088,480	150,109,271
Common Stock, Shares, Outstanding	148,088,480	150,109,271

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Operating activities
Net earnings	$ 944	$ 842
Adjustments to reconcile to net cash used in operating activities:
Depreciation and amortization	299	298
Stock-based compensation	20	19
Deferred income taxes	(103)	(205)
Net periodic pension and OPB income	(113)	(76)
Pension and OPB contributions	(36)	(40)
Changes in assets and liabilities:
Accounts receivable, net	(378)	(550)
Unbilled receivables, net	(757)	(232)
Inventoried costs, net	(262)	(137)
Prepaid expenses and other assets	49	(54)
Accounts payable and other liabilities	(581)	(1,128)
Income taxes payable, net	219	576
Other operating activities, net	(7)	(15)
Net cash used in operating activities	(706)	(702)
Investing activities
Capital expenditures	(270)	(309)
Other investing activities, net	1	0
Net cash used in investing activities	(269)	(309)
Financing activities
Net proceeds from issuance of long-term debt	2,495	1,995
Common stock repurchases	(1,190)	(723)
Cash dividends paid	(283)	(270)
Payments of employee taxes withheld from share-based awards	(55)	(47)
Other financing activities, net	(40)	(26)
Net cash provided by financing activities	927	929
Decrease in cash and cash equivalents	(48)	(82)
Cash and cash equivalents, beginning of year	3,109	2,577
Cash and Cash Equivalents, at Carrying Value	$ 3,061	$ 2,495

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Millions	Total	Common stock	Paid-in capital	Retained earnings	Accumulated other comprehensive loss
Beginning of period at Dec. 31, 2022		$ 153	$ 0	$ 15,312	$ (153)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock repurchased		1		726
Net earnings	$ 842			842
Dividends declared				(265)
Stock compensation				(28)
Other comprehensive (loss) income, net of tax	2				2
End of period at Mar. 31, 2023	$ 15,136	152	0	15,135	(151)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends declared per share	$ 1.73
Beginning of period at Dec. 31, 2023	$ 14,795	150	0	14,773	(128)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock repurchased		2		1,186
Net earnings	944			944
Dividends declared				(279)
Stock compensation				(34)
Other comprehensive (loss) income, net of tax	(15)				(15)
End of period at Mar. 31, 2024	$ 14,223	$ 148	$ 0	$ 14,218	$ (143)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends declared per share	$ 1.87

Basis of Presentation (Unaudite

Basis of Presentation (Unaudited)	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	1. BASIS OF PRESENTATION Principles of Consolidation and Reporting These unaudited condensed consolidated financial statements (the “financial statements”) include the accounts of Northrop Grumman Corporation and its subsidiaries and joint ventures or other investments for which we consolidate the financial results (herein referred to as “Northrop Grumman,” the “company,” “we,” “us,” or “our”). Intercompany accounts, transactions and profits are eliminated in consolidation. Investments in equity securities and joint ventures where the company has significant influence, but not control, are accounted for using the equity method. These financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP” or “FAS”) and in accordance with the rules of the Securities and Exchange Commission (SEC) for interim reporting. The financial statements include adjustments of a normal recurring nature considered necessary by management for a fair presentation of the company’s unaudited condensed consolidated financial position, results of operations and cash flows. For classification of certain current assets and liabilities, we consider the duration of our customer contracts when defining our operating cycle, which is generally longer than one year. Results reported in these financial statements are not necessarily indicative of results that may be expected for the entire year. These financial statements should be read in conjunction with the information contained in the company’s 2023 Annual Report on Form 10-K. Quarterly information is labeled using a calendar convention; that is, first quarter is consistently labeled as ending on March 31, second quarter as ending on June 30 and third quarter as ending on September 30. It is the company’s long-standing practice to establish actual interim closing dates using a “fiscal” calendar, in which we close our books on a Friday near these quarter-end dates in order to normalize the potentially disruptive effects of quarterly closings on business processes. This practice is only used at interim periods within a reporting year. Accounting Estimates Preparation of the financial statements requires management to make estimates and judgments that affect the reported amounts of assets and liabilities and the disclosure of contingencies at the date of the financial statements, as well as the reported amounts of sales and expenses during the reporting period. Estimates have been prepared using the most current and best available information; however, actual results could differ materially from those estimates. Revenue Recognition Contract Estimates Contract sales may include estimates of variable consideration, including cost or performance incentives (such as award and incentive fees), un-priced change orders, requests for equitable adjustment (REAs) and contract claims. Variable consideration is included in total estimated sales to the extent it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. We estimate variable consideration as the most likely amount to which we expect to be entitled. We recognize changes in estimated contract sales or costs and the resulting changes in contract profit on a cumulative basis. Net estimate-at-completion (EAC) adjustments represent the cumulative effect of the changes on current and prior periods; sales and operating margins in future periods are recognized as if the revised estimates had been used since contract inception. If it is determined that a loss is expected to result on an individual performance obligation, the entire amount of the estimable future loss, including an allocation of general and administrative expense, is charged against income in the period the loss is identified. B-21 Low-Rate Initial Production Options In 2015, the U.S. Air Force awarded Northrop Grumman the B-21 contract, which includes a base contract for engineering and manufacturing development (EMD) and five low-rate initial production (LRIP) options in varying quantities. The EMD phase of the program is largely cost type and began at contract award. The LRIP options are largely fixed price and are expected to continue to be awarded and executed through approximately the end of the decade. During the fourth quarter of 2023, we recognized a projected loss of $1.56 billion across the five LRIP options. During the first quarter of 2024, we again reviewed our estimated profitability on the LRIP phase of the program and made no significant changes to the previously recognized loss. The company’s first quarter 2024 results reflect our current best estimate of our cost to complete the LRIP options, as well as the outcome of ongoing discussions with our suppliers and our customer. If our estimated cost to complete the LRIP phase of the program changes or our assumptions regarding contract performance, quantities, or funding to mitigate the impact of macroeconomic disruptions are resolved more or less favorably than what we have estimated, our financial position, results of operations and/or cash flows could be materially affected. As of March 31, 2024, the remaining loss accrual is $1.5 billion, of which $994 million is included in Other current liabilities with the remainder included in Other non-current liabilities. HALO Engineering Change Proposal At the request of the National Aeronautics and Space Administration (NASA), Space Systems submitted an engineering change proposal (ECP) during the fourth quarter of 2023 for scope increases and other aspects of the Habitation and Logistics Outpost (HALO) contract largely stemming from evolving Lunar Gateway architecture and mission requirements. The ECP addresses both work performed and work expected to be performed by the company resulting from scope changes previously approved by NASA, as well as changes NASA has requested the company to propose but has not yet directed the company to perform. The company has begun negotiating with NASA on these various changes and other aspects of the HALO contract. During the first quarter of 2024, we again reviewed our estimated profitability on the HALO contract and made no significant changes. The company’s first quarter 2024 results reflect our current best estimate of the outcome of the ECP negotiations assuming the terms of the current contract; however, if the outcome is less favorable than what we have assumed, it could have an adverse effect on our financial position, results of operations and/or cash flows. The following table presents the effect of aggregate net EAC adjustments: Three Months Ended March 31 $ in millions, except per share data 2024 2023 Revenue $ 74 $ 62 Operating income 94 46 Net earnings (1) 74 36 Diluted earnings per share (1) 0.50 0.23 (1) Based on a 21 percent federal statutory tax rate. EAC adjustments on a single performance obligation can have a significant effect on the company’s financial statements. When such adjustments occur, we generally disclose the nature, underlying conditions and financial impact of the adjustments. No EAC adjustments on a single performance obligation had a significant impact on the financial statements during the three months ended March 31, 2024 or 2023. 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 an option or IDIQ task order is exercised or awarded. Backlog is converted into sales as costs are incurred or deliveries are made. Company backlog as of March 31, 2024 was $78.9 billion. Of our March 31, 2024 backlog, we expect to recognize approximately 40 percent as revenue over the next 12 months and 65 percent as revenue over the next 24 months, with the remainder to be recognized thereafter. In January 2024, the company received a termination for convenience in our restricted Space business. The company reduced unfunded backlog by $1.6 billion during the first quarter of 2024 related to the termination. Contract Assets and Liabilities For each of the company’s contracts, the timing of revenue recognition, customer billings, and cash collections results in a net contract asset or liability at the end of each reporting period. Contract assets are equivalent to and reflected as Unbilled receivables in the unaudited condensed consolidated statements of financial position and are primarily related to long-term contracts where revenue recognized under the cost-to-cost method exceeds amounts billed to customers. Contract liabilities are equivalent to and reflected as Advance payments and billings in excess of costs incurred in the unaudited condensed consolidated statements of financial position. The amount of revenue recognized for the three months ended March 31, 2024 and 2023 that was included in the contract liability balances at the beginning of each year was $1.9 billion and $1.7 billion, respectively. Disaggregation of Revenue See Note 10 for information regarding the company’s sales by customer type, contract type and geographic region for each of our segments. We believe those categories best depict how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors. Property, Plant, and Equipment Non-cash investing activities include capital expenditures incurred but not yet paid of $63 million and $43 million as of March 31, 2024 and 2023, respectively. Accumulated Other Comprehensive Loss The components of accumulated other comprehensive loss, net of tax, are as follows: $ in millions March 31, 2024 December 31, 2023 Cumulative translation adjustment $ (137) $ (138) Other, net (6) 10 Total accumulated other comprehensive loss $ (143) $ (128) Related Party Transactions For all periods presented, the company had no material related party transactions. Accounting Standards Updates On November 27, 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2023-07 Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. Among other new disclosure requirements, ASU 2023-07 requires companies to disclose significant segment expenses that are regularly provided to the chief operating decision maker. ASU 2023-07 will be effective for annual periods beginning on January 1, 2024 and interim periods beginning on January 1, 2025. ASU 2023-07 must be applied retrospectively to all prior periods presented in the financial statements. We are continuing to evaluate the disclosure impact of ASU 2023-07; however, the standard will not have an impact on the company’s consolidated financial position, results of operations and/or cash flows. On December 14, 2023, the FASB issued ASU No. 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures . ASU 2023-09 requires companies to disclose, on an annual basis, specific categories in the effective tax rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. In addition, ASU 2023-09 requires companies to disclose additional information about income taxes paid. ASU 2023-09 will be effective for annual periods beginning January 1, 2025 and will be applied on a prospective basis with the option to apply the standard retrospectively. We are continuing to evaluate the disclosure impact of ASU 2023-09; however, the standard will not have an impact on the company’s consolidated financial position, results of operations and/or cash flows. On March 6, 2024, the SEC issued its final climate disclosure rule, which requires registrants to include climate-related disclosures in registration statements and annual reports. The final rule requires registrants to provide information about the financial statement impacts of severe weather events and other natural conditions. The final rule also requires certain disclosures related to risk management and governance over climate-related risks, material climate targets and goals, and material Scope 1 and Scope 2 greenhouse gas emissions. The requirements would be phased in beginning with fiscal year 2025. On April 4, 2024, the SEC voluntarily stayed the final rule pending the completion of judicial review of cases pending in the Eighth Circuit. We are continuing to evaluate the disclosure impact of the final rule. Other accounting standards updates adopted and/or issued, but not effective until after March 31, 2024, are not expected to have a material effect on the company’s consolidated financial position, results of operations and/or cash flows.

Earnings Per Share, Share Repur

Earnings Per Share, Share Repurchases and Dividends on Common Stock (Unaudited)	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
EARNINGS PER SHARE, SHARE REPURCHASES AND DIVIDENDS ON COMMON STOCK	EARNINGS PER SHARE, SHARE REPURCHASES AND DIVIDENDS ON COMMON STOCK Basic Earnings Per Share We calculate basic earnings per share by dividing net earnings by the weighted-average number of shares of common stock outstanding during each period. Diluted Earnings Per Share Diluted earnings per share include the dilutive effect of awards granted to employees under stock-based compensation plans. The dilutive effect of these securities totaled 0.4 million shares and 0.6 million shares for the three months ended March 31, 2024 and 2023, respectively. Share Repurchases Share Repurchase Programs On January 25, 2021, the company’s board of directors authorized a share repurchase program of up to $3.0 billion of the company’s common stock (the “2021 Repurchase Program”). Repurchases under the 2021 Repurchase Program commenced in October 2021 and were completed in April 2023. On January 24, 2022, the company’s board of directors authorized a new share repurchase program of up to an additional $2.0 billion in share repurchases of the company’s common stock (the “2022 Repurchase Program”). Repurchases under the 2022 Repurchase Program commenced in April 2023 and were completed in February 2024. On December 6, 2023, the company’s board of directors authorized a new share repurchase program of up to an additional $2.5 billion in share repurchases of the company’s common stock (the “2023 Repurchase Program”). Repurchases under the 2023 Repurchase Program commenced in February 2024 upon completion of the 2022 Repurchase Program. As of March 31, 2024, repurchases under the 2023 Repurchase Program totaled $0.1 billion; $2.4 billion remained under this share repurchase authorization. By its terms, the 2023 Repurchase Program will expire when we have used all authorized funds for repurchases. Accelerated Share Repurchase Agreements During the first quarter of 2023, the company entered into an accelerated share repurchase (ASR) agreement with Bank of America, N.A. (Bank of America) to repurchase $500 million of the company’s common stock as part of the 2021 and 2022 Repurchase Programs. Under the agreement, we made a payment of $500 million to Bank of America and received an initial delivery of 0.9 million shares valued at $400 million that were immediately canceled by the company. The remaining balance of $100 million was settled on April 27, 2023 with a final delivery of 0.2 million shares from Bank of America. The final average purchase price was $458.28 per share. During the first quarter of 2024, the company entered into an ASR agreement with Morgan Stanley & Co. LLC (Morgan Stanley) to repurchase $1.0 billion of the company’s common stock as part of the 2022 Repurchase Program. Under the agreement, we made a payment of $1.0 billion to Morgan Stanley and received an initial delivery of 1.8 million shares valued at $800 million that were immediately canceled by the company. The remaining balance of $200 million is included as a reduction to Retained earnings on the unaudited condensed consolidated statement of financial position. The final number of shares to be repurchased will be based on the company’s daily volume-weighted average share price during the term of the agreement, less a discount. The ASR is expected to be completed in the second quarter of 2024. Share repurchases take place from time to time, subject to market conditions and management’s discretion, in the open market or in privately negotiated transactions. The company retires its common stock upon repurchase and, in the periods presented, has not made any purchases of common stock other than in connection with these publicly announced repurchase programs. The table below summarizes the company’s share repurchases to date under the authorizations described above: Shares Repurchased Repurchase Program Amount Total Average (1)(2) Date Completed Three Months Ended March 31 2024 2023 January 25, 2021 $ 3,000 7.0 $ 431.05 April 2023 — 1.4 January 24, 2022 $ 2,000 4.0 NM February 2024 2.1 — December 6, 2023 $ 2,500 0.1 $ 462.77 0.1 — (1) As a part of the 2023 Repurchase Program, the board of directors approved that the purchases under this program, and the authorization under the 2022 program, be exclusive of brokerage commissions and other costs of execution, including taxes. Commissions paid are included for the 2021 Repurchase Program. (2) The 2022 Share Repurchase program completed in February 2024; however, it includes the $1.0 billion ASR for which the final delivery of shares is still outstanding. The final average share price for shares purchased under the 2022 Repurchase Program will be determined once the ASR has completed and all related shares have been delivered. Dividends on Common Stock In May 2023, the company increased the quarterly common stock dividend 8 percent to $1.87 per share from the previous amount of $1.73 per share.

Inventory

Inventory	3 Months Ended
	Mar. 31, 2024
Inventory Disclosure [Abstract]
Inventory Disclosure [Text Block]	3. INVENTORIED COSTS, NET Inventoried costs, net consist of the following: $ in millions March 31, 2024 December 31, 2023 Contracts in process $ 862 $ 647 Product inventory: Raw materials 357 338 Work in process 92 72 Finished goods 59 52 Total product inventory 508 462 Inventoried costs, net $ 1,370 $ 1,109

Income Taxes (Unaudited)

Income Taxes (Unaudited)	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Three Months Ended March 31 $ in millions 2024 2023 Federal and foreign income tax expense $ 187 $ 156 Effective income tax rate 16.5 % 15.6 % The company’s first quarter 2024 effective tax rate (ETR) increased to 16.5 percent from 15.6 percent in the prior year period principally due to higher interest expense on unrecognized tax benefits. The first quarter 2024 ETR includes benefits of $44 million for research credits and $15 million for foreign derived intangible income (FDII), partially offset by $21 million of interest expense on unrecognized tax benefits. The first quarter 2023 ETR included benefits of $40 million for research credits and $15 million for FDII, partially offset by $13 million of interest expense on unrecognized tax benefits. Taxes receivable, which are included in Prepaid expenses and other current assets in the unaudited condensed consolidated statements of financial position, were $1.3 billion as of March 31, 2024 and $1.5 billion as of December 31, 2023. The company has recorded unrecognized tax benefits related to our methods of accounting associated with the timing of revenue recognition and related costs and the 2017 Tax Cuts and Jobs Act, which includes related final revenue recognition regulations issued in December 2020 under IRC Section 451(b) and procedural guidance issued in August 2021. As of March 31, 2024, we have approximately $2.1 billion in unrecognized tax benefits, including $872 million related to our position on IRC Section 451(b). If these matters, including our position on IRC Section 451(b), are unfavorably resolved, there could be a material impact on our future cash flows. It is reasonably possible that within the next 12 months our unrecognized tax benefits related to these matters may increase by approximately $90 million. Our current unrecognized tax benefits, which are included in Other current liabilities in the unaudited condensed consolidated statements of financial position, were $1.0 billion and $964 million as of March 31, 2024 and December 31, 2023, respectively, with the remainder of our unrecognized tax benefits included within Other non-current liabilities. We file income tax returns in the U.S. federal jurisdiction and in various state and foreign jurisdictions. The Northrop Grumman 2018-2020 federal tax returns are currently under Internal Revenue Service (IRS) examination. During the second quarter of 2023, the company entered into an agreed Revenue Agent’s Report (“RAR”) for certain matters related to the company’s 2014-2017 federal income tax returns, resulting in a $90 million reduction to our unrecognized tax benefits and an immaterial impact to income tax expense. The matters not addressed by the agreed RAR related to the company’s 2014-2017 federal income tax returns and refund claims related to its 2007-2016 federal tax returns are currently under review by the IRS Appeals Office. The Organization for Economic Co-operation and Development (OECD) has issued Pillar Two model rules for a new global minimum tax of 15% effective January 1, 2024. While it is uncertain whether the United States will enact legislation to adopt Pillar Two, certain countries in which we operate have adopted legislation, and other countries are in the process of introducing legislation to implement Pillar Two. Pillar Two had no impact on our first quarter 2024 effective tax rate, and we do not currently expect Pillar Two to significantly impact our effective tax rate going forward.

Fair Value of Financial Instrum

Fair Value of Financial Instruments (Unaudited)	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL INSTRUMENTS The company holds a portfolio of marketable securities to partially fund non-qualified employee benefit plans. A portion of these securities are held in common/collective trust funds and are measured at fair value using net asset value (NAV) per share as a practical expedient; therefore, they are not categorized in the fair value hierarchy table below. Marketable securities are included in Other non-current assets in the unaudited condensed consolidated statements of financial position. The company’s derivative portfolio consists primarily of foreign currency forward contracts. Where model-derived valuations are appropriate, the company utilizes the income approach to determine the fair value using internal models based on observable market inputs. The following table presents the financial assets and liabilities the company records at fair value on a recurring basis identified by the level of inputs used to determine fair value: March 31, 2024 December 31, 2023 $ in millions Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Financial Assets Marketable securities $ 320 $ — $ 14 $ 334 $ 321 $ 1 $ 8 $ 330 Marketable securities valued using NAV 9 9 Total marketable securities 320 — 14 343 321 1 8 339 Derivatives — 2 — 2 — 5 — 5 The notional value of the company’s foreign currency forward contracts at March 31, 2024 and December 31, 2023 was $273 million and $286 million, respectively. The portion of notional value designated as a cash flow hedge at March 31, 2024 and December 31, 2023 was $133 million and $162 million, respectively. The derivative fair values and related unrealized gains/losses at March 31, 2024 and December 31, 2023 were not material. There were no transfers of financial instruments into or out of Level 3 of the fair value hierarchy during the three months ended March 31, 2024. The carrying value of cash and cash equivalents approximates fair value. Long-term Debt The estimated fair value of long-term debt was $15.5 billion and $13.4 billion as of March 31, 2024 and December 31, 2023, respectively. We calculated the fair value of long-term debt using Level 2 inputs, based on interest rates available for debt with terms and maturities similar to the company’s existing debt arrangements. The current portion of long-term debt is recorded in Other current liabilities in the unaudited condensed consolidated statements of financial position. Unsecured Senior Notes In January 2024, the company issued $2.5 billion of unsecured senior notes for general corporate purposes, including debt repayment, share repurchases, and working capital, as follows: • $500 million of 4.60% senior notes due 2029 (the “2029 Notes”), • $850 million of 4.90% senior notes due 2034 (the “2034 Notes”), and • $1.15 billion of 5.20% senior notes due 2054 (the “2054 Notes”). In February 2023, the company issued $2.0 billion of unsecured senior notes for general corporate purposes, including debt repayment, share repurchases, and working capital, as follows: • $1.0 billion of 4.70% senior notes due 2033 (the “2033 Notes”) and • $1.0 billion of 4.95% senior notes due 2053 (the “2053 Notes”). We refer to the 2029 Notes, 2033 Notes, 2034 Notes, 2053 Notes and 2054 Notes together, as the “notes.” Interest on the notes is payable semi-annually in arrears. The notes are generally subject to redemption, in whole or in part, at the company’s discretion at any time, or from time to time, prior to maturity at a redemption price equal to the greater of 100% of the principal amount of the notes to be redeemed or an applicable “make-whole” amount, plus accrued and unpaid interest.
Long-Term Debt	Long-term Debt The estimated fair value of long-term debt was $15.5 billion and $13.4 billion as of March 31, 2024 and December 31, 2023, respectively. We calculated the fair value of long-term debt using Level 2 inputs, based on interest rates available for debt with terms and maturities similar to the company’s existing debt arrangements. The current portion of long-term debt is recorded in Other current liabilities in the unaudited condensed consolidated statements of financial position. Unsecured Senior Notes In January 2024, the company issued $2.5 billion of unsecured senior notes for general corporate purposes, including debt repayment, share repurchases, and working capital, as follows: • $500 million of 4.60% senior notes due 2029 (the “2029 Notes”), • $850 million of 4.90% senior notes due 2034 (the “2034 Notes”), and • $1.15 billion of 5.20% senior notes due 2054 (the “2054 Notes”). In February 2023, the company issued $2.0 billion of unsecured senior notes for general corporate purposes, including debt repayment, share repurchases, and working capital, as follows: • $1.0 billion of 4.70% senior notes due 2033 (the “2033 Notes”) and • $1.0 billion of 4.95% senior notes due 2053 (the “2053 Notes”). We refer to the 2029 Notes, 2033 Notes, 2034 Notes, 2053 Notes and 2054 Notes together, as the “notes.” Interest on the notes is payable semi-annually in arrears. The notes are generally subject to redemption, in whole or in part, at the company’s discretion at any time, or from time to time, prior to maturity at a redemption price equal to the greater of 100% of the principal amount of the notes to be redeemed or an applicable “make-whole” amount, plus accrued and unpaid interest.

Investigations, Claims and Liti

Investigations, Claims and Litigation (Unaudited)	3 Months Ended
	Mar. 31, 2024
Disclosure Text Block Supplement [Abstract]
INVESTIGATIONS, CLAIMS AND LITIGATION	INVESTIGATIONS, CLAIMS AND LITIGATION For over 25 years, the company has worked closely with the United States Navy, the United States Environmental Protection Agency, the New York State Department of Environmental Conservation, the New York State Department of Health and other federal, state and local governmental authorities, to address environmental conditions allegedly resulting from historic operations at the former United States Navy and Grumman facilities in Bethpage, New York. We have incurred, and expect to continue to incur, as included in Note 7, substantial remediation costs related to these Bethpage environmental conditions, including potential costs relating to unanticipated developments such as new discoveries of potential contaminants. It is also possible that applicable remediation standards and other requirements to which we are subject may continue to change, and that our costs may increase materially. In 2022, we resolved several disputes and regulatory proceedings concerning the scope and allocation of remediation responsibilities and costs related to this site and we continue remediation consistent with agreements through which those disputes were resolved. The company continues to be involved in related disputes, none of which are material individually or in the aggregate. We are also a party to various individual lawsuits and a putative class action in the Eastern District of New York alleging personal injury and property damage related to the legacy Bethpage environmental conditions. The court has stayed the filed individual lawsuits, pending its decision on class certification. We are also a party, and may become a party, to other lawsuits brought by or against insurance carriers, and by other individual plaintiffs and/or putative classes, as well as other parties. We cannot at this time predict or reasonably estimate the potential cumulative outcomes or ranges of possible liability of these Bethpage lawsuits. The company received from the U.S. Department of Justice (DOJ) a criminal subpoena on December 9, 2022, and a civil investigative demand (CID) on February 2, 2023, both seeking information regarding financial and cost accounting and controls that appears focused on the interest rate assumptions the company used to determine our CAS pension expense, which we discuss in Note 7 below. The company is engaging with the government and responding to the requests. We cannot at this point predict the outcome of these matters.

Commitments and Contingencies (

Commitments and Contingencies (Unaudited)	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES U.S. Government Cost Claims and Contingencies From time to time, the company is advised of claims by the U.S. government concerning certain potential disallowed costs, plus, at times, penalties and interest. When such findings are presented, the company and U.S. government representatives engage in discussions to enable the company to evaluate the merits of these claims, as well as to assess the amounts being claimed. Where appropriate, provisions are made to reflect the company’s estimated exposure for such potential disallowed costs. Such provisions are reviewed periodically using the most recent information available. The company believes it has adequately reserved for disputed amounts that are probable and reasonably estimable, and that the outcome of any such matters would not have a material adverse effect on its unaudited condensed consolidated financial position as of March 31, 2024, or its annual results of operations and/or cash flows. In 2019, the Defense Contract Management Agency (DCMA) raised questions about an interest rate assumption used by the company to determine our CAS pension expense. On June 1, 2020, DCMA provided written notice that the assumptions the company used during the period 2013-2019 were potentially noncompliant with CAS. We submitted a formal response on July 31, 2020, which we believed demonstrates the appropriateness of the assumptions used. On November 24, 2020, DCMA replied to the company’s response, disagreeing with our position and requesting additional input, which we provided on February 22, 2021. We subsequently continued to exchange correspondence and engage with DCMA on this matter, including responding to requests for and providing additional information. On February 15, 2024, DCMA sent to the company a Contracting Officer’s determination of noncompliance with CAS, which is an interim, non-final determination, and the parties are engaged in ongoing discussions. As noted in Note 6 above, the company received from the DOJ a criminal subpoena on December 9, 2022 and a CID on February 2, 2023, both seeking information that appears related to the interest rate assumptions at issue in our discussions with DCMA. The company is engaging with the government and responding to the requests. We cannot at this point predict the outcome of these matters. The sensitivity to changes in interest rate assumptions makes it reasonably possible the outcome of the DCMA matter could have a material adverse effect on our financial position, results of operations and/or cash flows, although we are not currently able to estimate a range of any potential loss. Environmental Matters The table below summarizes the amount accrued for environmental remediation costs, management’s estimate of the amount of reasonably possible future costs in excess of accrued costs and the deferred costs expected to be recoverable through overhead charges on U.S. government contracts as of March 31, 2024 and December 31, 2023: $ in millions Accrued Costs (1)(2) Reasonably Possible Future Costs in Excess of Accrued Costs (2) Deferred Costs (3) March 31, 2024 $ 587 $ 381 $ 520 December 31, 2023 584 387 518 (1) As of March 31, 2024, $226 million is recorded in Other current liabilities and $361 million is recorded in Other non-current liabilities. (2) Estimated remediation costs are not discounted to present value. The reasonably possible future costs in excess of accrued costs do not take into consideration amounts expected to be recoverable through overhead charges on U.S. government contracts. (3) As of March 31, 2024, $208 million is deferred in Prepaid expenses and other current assets and $312 million is deferred in Other non-current assets. These amounts are evaluated for recoverability on a routine basis. Although management cannot predict whether (i) new information gained as our environmental remediation projects progress, (ii) changes in remediation standards or other requirements to which we are subject, or (iii) other changes in facts and circumstances will materially affect the estimated liability accrued, we do not anticipate that future remediation expenditures associated with our currently identified projects will have a material adverse effect on the company’s unaudited condensed consolidated financial position as of March 31, 2024, or its annual results of operations and/or cash flows. Financial Arrangements In the ordinary course of business, the company uses standby letters of credit and guarantees issued by commercial banks and surety bonds issued principally by insurance companies to guarantee the performance on certain obligations. At March 31, 2024, there were $363 million of stand-by letters of credit and guarantees and $263 million of surety bonds outstanding. Commercial Paper The company maintains a commercial paper program that serves as a source of short-term financing with capacity to issue unsecured commercial paper notes up to $2.5 billion. At March 31, 2024, there were no commercial paper borrowings outstanding. Credit Facilities The company maintains a five-year senior unsecured credit facility in an aggregate principal amount of $2.5 billion (the “2022 Credit Agreement”) that matures in August 2027 and is intended to support the company's commercial paper program and other general corporate purposes. Commercial paper borrowings reduce the amount available for borrowing under the 2022 Credit Agreement. At March 31, 2024, there were no borrowings outstanding under this facility. The 2022 Credit Agreement contains generally customary terms and conditions, including covenants restricting the company’s ability to sell all or substantially all of its assets, merge or consolidate with another entity or undertake other fundamental changes and incur liens. The company also cannot permit the ratio of its debt to capitalization (as set forth in the credit agreement) to exceed 65 percent. At March 31, 2024, the company was in compliance with all covenants under its credit agreements.

Retirement Benefits (Unaudited)

Retirement Benefits (Unaudited)	3 Months Ended
	Mar. 31, 2024
Retirement Benefits [Abstract]
RETIREMENT BENEFITS	RETIREMENT BENEFITS The cost to the company of its pension and other postretirement benefit (OPB) plans is shown in the following table: Three Months Ended March 31 Pension OPB $ in millions 2024 2023 2024 2023 Components of net periodic benefit cost (benefit) Service cost $ 60 $ 59 $ 1 $ 1 Interest cost 381 392 15 17 Expected return on plan assets (549) (524) (21) (21) Net periodic benefit cost (benefit) $ (108) $ (73) $ (5) $ (3) Employer Contributions The company sponsors defined benefit pension and OPB plans, as well as defined contribution plans. We fund our defined benefit pension plans annually in a manner consistent with the Employee Retirement Income Security Act of 1974, as amended by the Pension Protection Act of 2006. Contributions made by the company to its retirement plans are as follows: Three Months Ended March 31 $ in millions 2024 2023 Defined benefit pension plans $ 25 $ 29 OPB plans 11 11 Defined contribution plans 230 215

Stock Compensation Plans and Ot

Stock Compensation Plans and Other Compensation Arrangements (Unaudited)	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
STOCK COMPENSATION PLANS AND OTHER COMPENSATION ARRANGEMENTS	STOCK COMPENSATION PLANS AND OTHER COMPENSATION ARRANGEMENTS Stock Awards The following table presents the number of restricted stock rights (RSRs) and restricted performance stock rights (RPSRs) granted to employees under the company’s long-term incentive stock plan and the grant date aggregate fair value of those stock awards for the periods presented: Three Months Ended March 31 in millions 2024 2023 RSRs granted 0.1 0.1 RPSRs granted 0.2 0.1 Grant date aggregate fair value $ 104 $ 100 RSRs typically vest on the third anniversary of the grant date, while RPSRs generally vest and pay out based on the achievement of certain performance metrics over a three-year period. Cash Awards The following table presents the minimum and maximum aggregate payout amounts related to cash units (CUs) and cash performance units (CPUs) granted to employees in the periods presented: Three Months Ended March 31 $ in millions 2024 2023 Minimum aggregate payout amount $ 35 $ 34 Maximum aggregate payout amount 199 191 CUs typically vest and settle in cash on the third anniversary of the grant date, while CPUs generally vest and pay out in cash based on the achievement of certain performance metrics over a three-year period.

Segment Information (Unaudited)

Segment Information (Unaudited)	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION The following table presents sales and operating income by segment: Three Months Ended March 31 $ in millions 2024 2023 Sales Aeronautics Systems $ 2,969 $ 2,515 Defense Systems 1,412 1,376 Mission Systems 2,659 2,563 Space Systems 3,655 3,350 Intersegment eliminations (562) (503) Total sales 10,133 9,301 Operating income Aeronautics Systems 297 237 Defense Systems 177 160 Mission Systems 378 360 Space Systems 332 313 Intersegment eliminations (80) (68) Total segment operating income 1,104 1,002 FAS/CAS operating adjustment 6 (21) Unallocated corporate expense (39) (34) Total operating income $ 1,071 $ 947 Other (expense) income Interest expense (146) (129) Non-operating FAS pension benefit 168 132 Other, net 38 48 Earnings before income taxes $ 1,131 $ 998 FAS/CAS Operating Adjustment For financial statement purposes, we account for our employee pension plans in accordance with FAS. However, the cost of these plans is charged to our contracts in accordance with applicable Federal Acquisition Regulation (FAR) and U.S. Government Cost Accounting Standards (CAS) requirements. The FAS/CAS operating adjustment reflects the difference between CAS pension expense included as cost in segment operating income and the service cost component of FAS expense included in total operating income. Unallocated Corporate Expense Unallocated corporate expense includes the portion of corporate costs not considered allowable or allocable under the applicable FAR and CAS requirements, and therefore not allocated to the segments, such as changes in deferred state income taxes and a portion of management and administration, legal, environmental, compensation, retiree benefits, advertising and other corporate unallowable costs. Unallocated corporate expense also includes costs not considered part of management’s evaluation of segment operating performance, such as amortization of purchased intangible assets and the additional depreciation expense related to the step-up in fair value of property, plant and equipment acquired through business combinations, as well as certain compensation and other costs. Disaggregation of Revenue Sales by Customer Type Three Months Ended March 31 2024 2023 $ in millions $ % (3) $ % (3) Aeronautics Systems U.S. government (1) $ 2,525 85 % $ 2,108 84 % International (2) 381 13 % 331 13 % Other customers 4 — % 11 — % Intersegment sales 59 2 % 65 3 % Aeronautics Systems sales 2,969 100 % 2,515 100 % Defense Systems U.S. government (1) 930 66 % 803 59 % International (2) 262 19 % 388 28 % Other customers 21 1 % 16 1 % Intersegment sales 199 14 % 169 12 % Defense Systems sales 1,412 100 % 1,376 100 % Mission Systems U.S. government (1) 1,912 72 % 1,935 75 % International (2) 454 17 % 376 15 % Other customers 16 1 % 15 1 % Intersegment sales 277 10 % 237 9 % Mission Systems sales 2,659 100 % 2,563 100 % Space Systems U.S. government (1) 3,477 95 % 3,166 95 % International (2) 65 2 % 71 2 % Other customers 86 2 % 81 2 % Intersegment sales 27 1 % 32 1 % Space Systems sales 3,655 100 % 3,350 100 % Total U.S. government (1) 8,844 87 % 8,012 86 % International (2) 1,162 12 % 1,166 13 % Other customers 127 1 % 123 1 % Total Sales $ 10,133 100 % $ 9,301 100 % (1) Sales to the U.S. government include sales from contracts for which we are the prime contractor, as well as those for which we are a subcontractor and the ultimate customer is the U.S. government. Each of the company’s segments derives substantial revenue from the U.S. government. (2) International sales include sales from contracts for which we are the prime contractor, as well as those for which we are a subcontractor and the ultimate customer is an international customer. These sales include foreign military sales contracted through the U.S. government. (3) Percentages calculated based on total segment sales. Sales by Contract Type Three Months Ended March 31 2024 2023 $ in millions $ % (1) $ % (1) Aeronautics Systems Cost-type $ 1,313 45 % $ 1,231 50 % Fixed-price 1,597 55 % 1,219 50 % Intersegment sales 59 65 Aeronautics Systems sales 2,969 2,515 Defense Systems Cost-type 360 30 % 423 35 % Fixed-price 853 70 % 784 65 % Intersegment sales 199 169 Defense Systems sales 1,412 1,376 Mission Systems Cost-type 1,067 45 % 961 41 % Fixed-price 1,315 55 % 1,365 59 % Intersegment sales 277 237 Mission Systems sales 2,659 2,563 Space Systems Cost-type 2,457 68 % 2,446 74 % Fixed-price 1,171 32 % 872 26 % Intersegment sales 27 32 Space Systems sales 3,655 3,350 Total Cost-type 5,197 51 % 5,061 54 % Fixed-price 4,936 49 % 4,240 46 % Total Sales $ 10,133 $ 9,301 (1) Percentages calculated based on external customer sales. Sales by Geographic Region Three Months Ended March 31 2024 2023 $ in millions $ % (2) $ % (2) Aeronautics Systems United States $ 2,529 87 % $ 2,119 87 % Asia/Pacific 149 5 % 147 6 % Europe 225 8 % 174 7 % All other (1) 7 — % 10 — % Intersegment sales 59 65 Aeronautics Systems sales 2,969 2,515 Defense Systems United States 951 78 % 819 67 % Asia/Pacific 71 6 % 117 10 % Europe 154 13 % 128 11 % All other (1) 37 3 % 143 12 % Intersegment sales 199 169 Defense Systems sales 1,412 1,376 Mission Systems United States 1,928 81 % 1,950 83 % Asia/Pacific 126 5 % 92 4 % Europe 255 11 % 200 9 % All other (1) 73 3 % 84 4 % Intersegment sales 277 237 Mission Systems sales 2,659 2,563 Space Systems United States 3,563 98 % 3,247 98 % Asia/Pacific 13 1 % 20 1 % Europe 42 1 % 45 1 % All other (1) 10 — % 6 — % Intersegment sales 27 32 Space Systems sales 3,655 3,350 Total United States 8,971 88 % 8,135 87 % Asia/Pacific 359 4 % 376 4 % Europe 676 7 % 547 6 % All other (1) 127 1 % 243 3 % Total Sales $ 10,133 $ 9,301 (1) All other is principally comprised of the Middle East. (2) Percentages calculated based on external customer sales.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net earnings	$ 944	$ 842

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Thomas Jones [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	Sale of 4,167 shares of common stock Gift of 731 shares of common stock
Name	Thomas H. Jones
Title	(Corporate Vice President and President, Aeronautics Systems)
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	March 7, 2024
Termination Date	Until March 5, 2025 or such earlier date upon the completion of all trades under the plan (or the expiration of the orders relating to such trades without execution) or the occurrence of such other termination events as specified in the plan.
Roshan Roeder [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	Sale of 799.58 shares of common stock
Name	Roshan S. Roeder
Title	(Corporate Vice President and President, Defense Systems)
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	February 16, 2024
Termination Date	Until February 14, 2025 or such earlier date upon the completion of all trades under the plan (or the expiration of the orders relating to such trades without execution) or the occurrence of such other termination events as specified in the plan.
Kathryn Simpson [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	Sale of 889 shares of common stock Sale of shares to be received upon payout of 2022 RPSRs and RSRs (1)
Name	Kathryn G. Simpson
Title	(Corporate Vice President and General Counsel)
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	March 5, 2024
Termination Date	Until March 5, 2025 or such earlier date upon the completion of all trades under the plan (or the expiration of the orders relating to such trades without execution) or the occurrence of such other termination events as specified in the plan.

Summary of Significant Accounti

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles of Consolidation	These unaudited condensed consolidated financial statements (the “financial statements”) include the accounts of Northrop Grumman Corporation and its subsidiaries and joint ventures or other investments for which we consolidate the financial results (herein referred to as “Northrop Grumman,” the “company,” “we,” “us,” or “our”). Intercompany accounts, transactions and profits are eliminated in consolidation. Investments in equity securities and joint ventures where the company has significant influence, but not control, are accounted for using the equity method.
Basis of Presentation	These financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP” or “FAS”) and in accordance with the rules of the Securities and Exchange Commission (SEC) for interim reporting. The financial statements include adjustments of a normal recurring nature considered necessary by management for a fair presentation of the company’s unaudited condensed consolidated financial position, results of operations and cash flows. For classification of certain current assets and liabilities, we consider the duration of our customer contracts when defining our operating cycle, which is generally longer than one year. Results reported in these financial statements are not necessarily indicative of results that may be expected for the entire year. These financial statements should be read in conjunction with the information contained in the company’s 2023 Annual Report on Form 10-K.
Fiscal Period Policy	Quarterly information is labeled using a calendar convention; that is, first quarter is consistently labeled as ending on March 31, second quarter as ending on June 30 and third quarter as ending on September 30. It is the company’s long-standing practice to establish actual interim closing dates using a “fiscal” calendar, in which we close our books on a Friday near these quarter-end dates in order to normalize the potentially disruptive effects of quarterly closings on business processes. This practice is only used at interim periods within a reporting year.
Accounting Estimates	Preparation of the financial statements requires management to make estimates and judgments that affect the reported amounts of assets and liabilities and the disclosure of contingencies at the date of the financial statements, as well as the reported amounts of sales and expenses during the reporting period. Estimates have been prepared using the most current and best available information; however, actual results could differ materially from those estimates.
Revenue from Contract with Customer	Contract Estimates Contract sales may include estimates of variable consideration, including cost or performance incentives (such as award and incentive fees), un-priced change orders, requests for equitable adjustment (REAs) and contract claims. Variable consideration is included in total estimated sales to the extent it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. We estimate variable consideration as the most likely amount to which we expect to be entitled. We recognize changes in estimated contract sales or costs and the resulting changes in contract profit on a cumulative basis. Net estimate-at-completion (EAC) adjustments represent the cumulative effect of the changes on current and prior periods; sales and operating margins in future periods are recognized as if the revised estimates had been used since contract inception. If it is determined that a loss is expected to result on an individual performance obligation, the entire amount of the estimable future loss, including an allocation of general and administrative expense, is charged against income in the period the loss is identified. Contract Assets and Liabilities
Earnings Per Share	We calculate basic earnings per share by dividing net earnings by the weighted-average number of shares of common stock outstanding during each period.
Investments in Marketable Securities	The company holds a portfolio of marketable securities to partially fund non-qualified employee benefit plans. A portion of these securities are held in common/collective trust funds and are measured at fair value using net asset value (NAV) per share as a practical expedient; therefore, they are not categorized in the fair value hierarchy table below. Marketable securities are included in Other non-current assets in the unaudited condensed consolidated statements of financial position.
Derivative Financial Instruments and Hedging Activities	The company’s derivative portfolio consists primarily of foreign currency forward contracts. Where model-derived valuations are appropriate, the company utilizes the income approach to determine the fair value using internal models based on observable market inputs.
Fair Value of Long-term Debt	We calculated the fair value of long-term debt using Level 2 inputs, based on interest rates available for debt with terms and maturities similar to the company’s existing debt arrangements. The current portion of long-term debt is recorded in Other current liabilities in the unaudited condensed consolidated statements of financial position.
U.S. Government Cost Claims	From time to time, the company is advised of claims by the U.S. government concerning certain potential disallowed costs, plus, at times, penalties and interest. When such findings are presented, the company and U.S. government representatives engage in discussions to enable the company to evaluate the merits of these claims, as well as to assess the amounts being claimed. Where appropriate, provisions are made to reflect the company’s estimated exposure for such potential disallowed costs. Such provisions are reviewed periodically using the most recent information available.
Pension and Other Postretirement Plans	We fund our defined benefit pension plans annually in a manner consistent with the Employee Retirement Income Security Act of 1974, as amended by the Pension Protection Act of 2006
New Accounting Pronouncements, Policy	On November 27, 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2023-07 Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. Among other new disclosure requirements, ASU 2023-07 requires companies to disclose significant segment expenses that are regularly provided to the chief operating decision maker. ASU 2023-07 will be effective for annual periods beginning on January 1, 2024 and interim periods beginning on January 1, 2025. ASU 2023-07 must be applied retrospectively to all prior periods presented in the financial statements. We are continuing to evaluate the disclosure impact of ASU 2023-07; however, the standard will not have an impact on the company’s consolidated financial position, results of operations and/or cash flows. On December 14, 2023, the FASB issued ASU No. 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures . ASU 2023-09 requires companies to disclose, on an annual basis, specific categories in the effective tax rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. In addition, ASU 2023-09 requires companies to disclose additional information about income taxes paid. ASU 2023-09 will be effective for annual periods beginning January 1, 2025 and will be applied on a prospective basis with the option to apply the standard retrospectively. We are continuing to evaluate the disclosure impact of ASU 2023-09; however, the standard will not have an impact on the company’s consolidated financial position, results of operations and/or cash flows. On March 6, 2024, the SEC issued its final climate disclosure rule, which requires registrants to include climate-related disclosures in registration statements and annual reports. The final rule requires registrants to provide information about the financial statement impacts of severe weather events and other natural conditions. The final rule also requires certain disclosures related to risk management and governance over climate-related risks, material climate targets and goals, and material Scope 1 and Scope 2 greenhouse gas emissions. The requirements would be phased in beginning with fiscal year 2025. On April 4, 2024, the SEC voluntarily stayed the final rule pending the completion of judicial review of cases pending in the Eighth Circuit. We are continuing to evaluate the disclosure impact of the final rule. Other accounting standards updates adopted and/or issued, but not effective until after March 31, 2024, are not expected to have a material effect on the company’s consolidated financial position, results of operations and/or cash flows.

Basis of Presentation (Unaudi_2

Basis of Presentation (Unaudited) (Tables)	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Change in Accounting Estimate [Table Text Block]	The following table presents the effect of aggregate net EAC adjustments: Three Months Ended March 31 $ in millions, except per share data 2024 2023 Revenue $ 74 $ 62 Operating income 94 46 Net earnings (1) 74 36 Diluted earnings per share (1) 0.50 0.23 (1)
Accumulated Other Comprehensive Loss	The components of accumulated other comprehensive loss, net of tax, are as follows: $ in millions March 31, 2024 December 31, 2023 Cumulative translation adjustment $ (137) $ (138) Other, net (6) 10 Total accumulated other comprehensive loss $ (143) $ (128)

Earnings Per Share, Share Rep_2

Earnings Per Share, Share Repurchases and Dividends on Common Stock (Unaudited) (Tables)	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Share Repurchases	The table below summarizes the company’s share repurchases to date under the authorizations described above: Shares Repurchased Repurchase Program Amount Total Average (1)(2) Date Completed Three Months Ended March 31 2024 2023 January 25, 2021 $ 3,000 7.0 $ 431.05 April 2023 — 1.4 January 24, 2022 $ 2,000 4.0 NM February 2024 2.1 — December 6, 2023 $ 2,500 0.1 $ 462.77 0.1 —

Inventory (Tables)

Inventory (Tables)	3 Months Ended
	Mar. 31, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory, Current [Table Text Block]	$ in millions March 31, 2024 December 31, 2023 Contracts in process $ 862 $ 647 Product inventory: Raw materials 357 338 Work in process 92 72 Finished goods 59 52 Total product inventory 508 462 Inventoried costs, net $ 1,370 $ 1,109

Income Taxes (Unaudited) (Table

Income Taxes (Unaudited) (Tables)	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Schedule of Income Tax Expense and Effective Income Tax Rates	Three Months Ended March 31 $ in millions 2024 2023 Federal and foreign income tax expense $ 187 $ 156 Effective income tax rate 16.5 % 15.6 %

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Unaudited) (Tables)	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair value information of assets and liabilities measured at fair value on a recurring basis	The following table presents the financial assets and liabilities the company records at fair value on a recurring basis identified by the level of inputs used to determine fair value: March 31, 2024 December 31, 2023 $ in millions Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Financial Assets Marketable securities $ 320 $ — $ 14 $ 334 $ 321 $ 1 $ 8 $ 330 Marketable securities valued using NAV 9 9 Total marketable securities 320 — 14 343 321 1 8 339 Derivatives — 2 — 2 — 5 — 5

Commitments and Contingencies_2

Commitments and Contingencies (Unaudited) (Tables)	3 Months Ended
	Mar. 31, 2024
Environmental Remediation Range of Future Costs [Line Items]
Environmental Remediation [Table Text Block]	The table below summarizes the amount accrued for environmental remediation costs, management’s estimate of the amount of reasonably possible future costs in excess of accrued costs and the deferred costs expected to be recoverable through overhead charges on U.S. government contracts as of March 31, 2024 and December 31, 2023: $ in millions Accrued Costs (1)(2) Reasonably Possible Future Costs in Excess of Accrued Costs (2) Deferred Costs (3) March 31, 2024 $ 587 $ 381 $ 520 December 31, 2023 584 387 518 (1) As of March 31, 2024, $226 million is recorded in Other current liabilities and $361 million is recorded in Other non-current liabilities. (2) Estimated remediation costs are not discounted to present value. The reasonably possible future costs in excess of accrued costs do not take into consideration amounts expected to be recoverable through overhead charges on U.S. government contracts. (3) As of March 31, 2024, $208 million is deferred in Prepaid expenses and other current assets and $312 million is deferred in Other non-current assets. These amounts are evaluated for recoverability on a routine basis.

Retirement Benefits (Unaudite_2

Retirement Benefits (Unaudited) (Tables)	3 Months Ended
	Mar. 31, 2024
Retirement Benefits [Abstract]
Components of net periodic benefit cost	The cost to the company of its pension and other postretirement benefit (OPB) plans is shown in the following table: Three Months Ended March 31 Pension OPB $ in millions 2024 2023 2024 2023 Components of net periodic benefit cost (benefit) Service cost $ 60 $ 59 $ 1 $ 1 Interest cost 381 392 15 17 Expected return on plan assets (549) (524) (21) (21) Net periodic benefit cost (benefit) $ (108) $ (73) $ (5) $ (3)
Employer contributions to retirement plans	Contributions made by the company to its retirement plans are as follows: Three Months Ended March 31 $ in millions 2024 2023 Defined benefit pension plans $ 25 $ 29 OPB plans 11 11 Defined contribution plans 230 215

Stock Compensation Plans and _2

Stock Compensation Plans and Other Compensation Arrangements (Unaudited) (Tables)	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Nonvested Restricted Stock Shares Activity [Table Text Block]	The following table presents the number of restricted stock rights (RSRs) and restricted performance stock rights (RPSRs) granted to employees under the company’s long-term incentive stock plan and the grant date aggregate fair value of those stock awards for the periods presented: Three Months Ended March 31 in millions 2024 2023 RSRs granted 0.1 0.1 RPSRs granted 0.2 0.1 Grant date aggregate fair value $ 104 $ 100
Cash Units and Cash Performance Units Aggregate Payout Amount [Table Text Block]	The following table presents the minimum and maximum aggregate payout amounts related to cash units (CUs) and cash performance units (CPUs) granted to employees in the periods presented: Three Months Ended March 31 $ in millions 2024 2023 Minimum aggregate payout amount $ 35 $ 34 Maximum aggregate payout amount 199 191

Segment Information (Unaudite_2

Segment Information (Unaudited) (Tables)	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Sales and operating income by segment	The following table presents sales and operating income by segment: Three Months Ended March 31 $ in millions 2024 2023 Sales Aeronautics Systems $ 2,969 $ 2,515 Defense Systems 1,412 1,376 Mission Systems 2,659 2,563 Space Systems 3,655 3,350 Intersegment eliminations (562) (503) Total sales 10,133 9,301 Operating income Aeronautics Systems 297 237 Defense Systems 177 160 Mission Systems 378 360 Space Systems 332 313 Intersegment eliminations (80) (68) Total segment operating income 1,104 1,002 FAS/CAS operating adjustment 6 (21) Unallocated corporate expense (39) (34) Total operating income $ 1,071 $ 947 Other (expense) income Interest expense (146) (129) Non-operating FAS pension benefit 168 132 Other, net 38 48 Earnings before income taxes $ 1,131 $ 998
Revenue by Major Customers by Reporting Segments	Sales by Customer Type Three Months Ended March 31 2024 2023 $ in millions $ % (3) $ % (3) Aeronautics Systems U.S. government (1) $ 2,525 85 % $ 2,108 84 % International (2) 381 13 % 331 13 % Other customers 4 — % 11 — % Intersegment sales 59 2 % 65 3 % Aeronautics Systems sales 2,969 100 % 2,515 100 % Defense Systems U.S. government (1) 930 66 % 803 59 % International (2) 262 19 % 388 28 % Other customers 21 1 % 16 1 % Intersegment sales 199 14 % 169 12 % Defense Systems sales 1,412 100 % 1,376 100 % Mission Systems U.S. government (1) 1,912 72 % 1,935 75 % International (2) 454 17 % 376 15 % Other customers 16 1 % 15 1 % Intersegment sales 277 10 % 237 9 % Mission Systems sales 2,659 100 % 2,563 100 % Space Systems U.S. government (1) 3,477 95 % 3,166 95 % International (2) 65 2 % 71 2 % Other customers 86 2 % 81 2 % Intersegment sales 27 1 % 32 1 % Space Systems sales 3,655 100 % 3,350 100 % Total U.S. government (1) 8,844 87 % 8,012 86 % International (2) 1,162 12 % 1,166 13 % Other customers 127 1 % 123 1 % Total Sales $ 10,133 100 % $ 9,301 100 % (1) Sales to the U.S. government include sales from contracts for which we are the prime contractor, as well as those for which we are a subcontractor and the ultimate customer is the U.S. government. Each of the company’s segments derives substantial revenue from the U.S. government. (2) International sales include sales from contracts for which we are the prime contractor, as well as those for which we are a subcontractor and the ultimate customer is an international customer. These sales include foreign military sales contracted through the U.S. government. (3) Percentages calculated based on total segment sales.
Revenue from External Customers by Contract Type	Sales by Contract Type Three Months Ended March 31 2024 2023 $ in millions $ % (1) $ % (1) Aeronautics Systems Cost-type $ 1,313 45 % $ 1,231 50 % Fixed-price 1,597 55 % 1,219 50 % Intersegment sales 59 65 Aeronautics Systems sales 2,969 2,515 Defense Systems Cost-type 360 30 % 423 35 % Fixed-price 853 70 % 784 65 % Intersegment sales 199 169 Defense Systems sales 1,412 1,376 Mission Systems Cost-type 1,067 45 % 961 41 % Fixed-price 1,315 55 % 1,365 59 % Intersegment sales 277 237 Mission Systems sales 2,659 2,563 Space Systems Cost-type 2,457 68 % 2,446 74 % Fixed-price 1,171 32 % 872 26 % Intersegment sales 27 32 Space Systems sales 3,655 3,350 Total Cost-type 5,197 51 % 5,061 54 % Fixed-price 4,936 49 % 4,240 46 % Total Sales $ 10,133 $ 9,301 (1) Percentages calculated based on external customer sales.
Revenue from External Customers by Geographic Areas	Sales by Geographic Region Three Months Ended March 31 2024 2023 $ in millions $ % (2) $ % (2) Aeronautics Systems United States $ 2,529 87 % $ 2,119 87 % Asia/Pacific 149 5 % 147 6 % Europe 225 8 % 174 7 % All other (1) 7 — % 10 — % Intersegment sales 59 65 Aeronautics Systems sales 2,969 2,515 Defense Systems United States 951 78 % 819 67 % Asia/Pacific 71 6 % 117 10 % Europe 154 13 % 128 11 % All other (1) 37 3 % 143 12 % Intersegment sales 199 169 Defense Systems sales 1,412 1,376 Mission Systems United States 1,928 81 % 1,950 83 % Asia/Pacific 126 5 % 92 4 % Europe 255 11 % 200 9 % All other (1) 73 3 % 84 4 % Intersegment sales 277 237 Mission Systems sales 2,659 2,563 Space Systems United States 3,563 98 % 3,247 98 % Asia/Pacific 13 1 % 20 1 % Europe 42 1 % 45 1 % All other (1) 10 — % 6 — % Intersegment sales 27 32 Space Systems sales 3,655 3,350 Total United States 8,971 88 % 8,135 87 % Asia/Pacific 359 4 % 376 4 % Europe 676 7 % 547 6 % All other (1) 127 1 % 243 3 % Total Sales $ 10,133 $ 9,301 (1) All other is principally comprised of the Middle East. (2) Percentages calculated based on external customer sales.

Basis of Presentation (Unaudi_3

Basis of Presentation (Unaudited) Contract Estimates (Details 2) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Change in Accounting Estimate [Line Items]
Operating income	$ 1,071		$ 947
Net earnings	$ 944		$ 842
Diluted earnings per share	$ 6.32		$ 5.50
Contracts Accounted for under Percentage of Completion [Member]
Change in Accounting Estimate [Line Items]
Revenue	$ 74		$ 62
Operating income	94		46
Net earnings	$ 74		$ 36
Diluted earnings per share	$ 0.50		$ 0.23
Contracts Accounted for under Percentage of Completion [Member] | B-21 Program LRIP Options [Member] | Aeronautics Systems [Member]
Change in Accounting Estimate [Line Items]
Loss Contingency, Loss in Period		$ 1,560
Loss Contingency Accrual	$ 1,500
Loss Contingency, Accrual, Current	$ 994

Basis of Presentation (Unaudi_4

Basis of Presentation (Unaudited) Backlog and Contract Assets and Liabilities (Details 3) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Jan. 31, 2024	Mar. 31, 2024	Mar. 31, 2023
Change in Contract with Customer, Liability [Abstract]
Contract with Customer, Liability, Revenue Recognized		$ 1,900	$ 1,700
Revenue from Contract with Customer [Abstract]
Revenue, Remaining Performance Obligation, Amount		$ 78,900
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Backlog Reduction due to Contract Termination	$ 1,600
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-03-31
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Percentage		40%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period		12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Percentage		65%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period		24 months

Basis of Presentation (Unaudi_5

Basis of Presentation (Unaudited) Property Plant and Equipment (Details 4) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Capital Expenditures Incurred but Not yet Paid	$ 63	$ 43
Noncash Investing and Financing Activities Related Text	Non-cash investing activities include capital expenditures incurred but not yet paid of $63 million and $43 million as of March 31, 2024 and 2023, respectively.

Basis of Presentation (Unaudi_6

Basis of Presentation (Unaudited) Accumulated Other Comprehensive Income (Loss) (Details 5) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax	$ (137)	$ (138)
Accumulated Other Comprehensive Income (Loss), Other Components, Net of Tax	(6)	10
Accumulated other comprehensive loss	$ (143)	$ (128)

Earnings Per Share, Share Rep_3

Earnings Per Share, Share Repurchases and Dividends on Common Stock (Unaudited) Earnings Per Share and Dividends (Details 1) - $ / shares shares in Millions	1 Months Ended		3 Months Ended
	May 31, 2023	May 31, 2022	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements			0.4	0.6
Common stock dividends per share, declared (in dollars per share)	$ 1.87	$ 1.73	$ 1.87	$ 1.73
Increase in quarterly common stock dividend (percent)	8%

Earnings Per Share, Share Rep_4

Earnings Per Share, Share Repurchases and Dividends on Common Stock (Unaudited) Share Repurchases (Details 2) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions

3 Months Ended

4 Months Ended

25 Months Ended

27 Months Ended

Feb. 29, 2024

Jan. 31, 2024

Apr. 30, 2023

Feb. 02, 2023

Mar. 31, 2024

Apr. 27, 2023

Mar. 31, 2023

Mar. 31, 2024

Feb. 27, 2024

Apr. 30, 2023

Dec. 06, 2023

Jan. 24, 2022

Jan. 25, 2021

January 2021 Share Repurchase Program

Share Repurchase [Line Items]

Amount Authorized

$ 3,000

Shares Retired

7,000

Average Cost Per Share

$ 431.05

2021 Repurchase Program - Completion Date

April 2023

Shares Repurchased

0

1,400

January 2022 Share Repurchase Program

Share Repurchase [Line Items]

Amount Authorized

$ 2,000

Shares Retired

4,000

2022 Repurchase Program Expiration Date

February 2024

Shares Repurchased

2,100

0

December 2023 Share Repurchase Program

Share Repurchase [Line Items]

Amount Authorized

$ 2,500

Shares Retired

100

Average Cost Per Share

$ 462.77

Shares Repurchased

100

0

Shares repurchased amount

$ 100

Share Repurchases - Notes to Table

Amount remaining under authorization for share repurchases

$ 2,400

$ 2,400

Q1'23 ASR [Domain]

Accelerated Share Repurchases [Line Items]

Accelerated Share Repurchases, Cash or Stock Settlement

500 million

Accelerated Share Repurchases, Settlement (Payment) or Receipt

$ 500

Accelerated Share Repurchase Initial Receipt (Shares)

900

Stock Repurchased and Retired During Period, Value

$ 400

Accelerated Share Repurchases, Adjustment to Recorded Amount

$ 100

Accelerated Share Repurchases, Final Price Paid Per Share

$ 458.28

Accelerated Share Repurchase Final Receipt

200

Q1'24 ASR [Domain]

Accelerated Share Repurchases [Line Items]

Accelerated Share Repurchases, Cash or Stock Settlement

1.0 billion

Accelerated Share Repurchases, Settlement (Payment) or Receipt

$ 1,000

Accelerated Share Repurchase Initial Receipt (Shares)

1,800

Stock Repurchased and Retired During Period, Value

$ 800

Accelerated Share Repurchases, Adjustment to Recorded Amount

$ 200

Inventory (Details)

Inventory (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Inventory [Line Items]
Contracts in process	$ 862	$ 647
Inventory, Raw Materials, Net of Reserves	357	338
Inventory, Work in Process, Net of Reserves	92	72
Inventory, Finished Goods, Net of Reserves	59	52
Total product inventory	508	462
Inventoried costs, net	$ 1,370	$ 1,109

Income Taxes (Unaudited) Effect

Income Taxes (Unaudited) Effective Income Tax Rate Reconciliation (Details 1) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Federal and foreign income tax expense	$ 187	$ 156
Effective income tax rate	16.50%	15.60%
Effective Income Tax Rate Reconciliation, Tax Credit, Research, Amount	$ 44	$ 40
Income Tax Reconciliation Deductions FDII	15	15
Income Taxes Receivable	1,300		$ 1,500
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense	$ 21	$ 13

Income Taxes (Unaudited) Unreco

Income Taxes (Unaudited) Unrecognized Tax Benefit (Details 2) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2023
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Increase in Unrecognized Tax Benefits is Reasonably Possible	$ 90
Current unrecognized tax benefits	1,000			$ 964
Unrecognized Tax Benefit Related to Methods of Accounting	2,100
Unrecognized Tax Benefits Related to Methods of Accounting - 451(b)	872
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense	$ 21		$ 13
Internal Revenue Service (IRS)
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities		$ 90

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Unaudited) (Details 1) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable Securities	$ 343	$ 339
Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable Securities	320	321
Derivatives	0	0
Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable Securities	0	1
Derivatives	2	5
Fair Value, Inputs, Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable Securities	14	8
Derivatives	0	0
Fair Value, Recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable Securities	334	330
Derivatives	2	5
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable Securities	320	321
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable Securities	0	1
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable Securities	14	8
Fair Value, Nonrecurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable Securities	$ 9	$ 9

Amounts in Paragraphs - Fair Va

Amounts in Paragraphs - Fair Value of Financial Instruments (Unaudited) (Details 2) - Foreign Exchange Forward [Member] - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Derivative, Notional Amount	$ 273	$ 286
Designated as Hedging Instrument [Member]
Debt Instrument [Line Items]
Derivative, Notional Amount	$ 133	$ 162

Fair Value of Financial Instr_4

Fair Value of Financial Instruments (Unaudited) Long-term Debt (Details 3) - USD ($) $ in Millions	Mar. 31, 2024	Jan. 31, 2024	Dec. 31, 2023	Feb. 08, 2023
Debt Instruments [Abstract]
Long-term Debt, Fair Value	$ 15,500		$ 13,400
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 2,500		$ 2,000
2033 Notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount				$ 1,000
Debt Instrument, Interest Rate, Stated Percentage				4.70%
2053 Notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount				$ 1,000
Debt Instrument, Interest Rate, Stated Percentage				4.95%
2029 Notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 500
Debt Instrument, Interest Rate, Stated Percentage		4.60%
2034 Notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 850
Debt Instrument, Interest Rate, Stated Percentage		4.90%
2054 Notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 1,150
Debt Instrument, Interest Rate, Stated Percentage		5.20%

Commitments and Contingencies_3

Commitments and Contingencies (Unaudited) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Site Contingency [Line Items]
Accrual for Environmental Remediation Costs	$ 587	$ 584
Loss Contingency, Range of Possible Loss, Portion Not Accrued	381	387
Recorded Third-Party Environmental Recoveries, Amount	520	$ 518
Financial Arrangements
Standby Unused Letters Of Credit and bank guarantees	363
Surety Bond Outstanding	$ 263
Line of Credit Facility [Line Items]
Debt Instrument, Covenant Compliance	the company was in compliance with all covenants under its credit agreements.
Line of Credit Facility [Table]
Line of Credit Facility, Covenant Terms, Maximum Debt to Capitalization Ratio	The company also cannot permit the ratio of its debt to capitalization (as set forth in the credit agreement) to exceed 65 percent.
2022 Five Year Term
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 2,500
Line of Credit Outstanding	0
Commercial Paper [Member]
Line of Credit Facility [Line Items]
Commercial Paper, Maximum Borrowing Capacity	2,500
Other Current Liabilities [Member]
Site Contingency [Line Items]
Accrual for Environmental Remediation Costs	226
Other Noncurrent Liabilities [Member]
Site Contingency [Line Items]
Accrual for Environmental Remediation Costs	361
Other Current Assets [Member]
Site Contingency [Line Items]
Recorded Third-Party Environmental Recoveries, Amount	208
Other Noncurrent Assets [Member]
Site Contingency [Line Items]
Recorded Third-Party Environmental Recoveries, Amount	$ 312

Retirement Benefits (Unaudite_3

Retirement Benefits (Unaudited) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Components of Net Periodic Benefit Cost
Net periodic benefit cost (benefit)	$ (113)	$ (76)
Defined contribution plan, employer contributions	230	215
Pension Benefits
Components of Net Periodic Benefit Cost
Service cost	60	59
Interest cost	381	392
Expected return on plan assets	(549)	(524)
Net periodic benefit cost (benefit)	(108)	(73)
Defined benefit plan, contributions by Employer	25	29
OPB
Components of Net Periodic Benefit Cost
Service cost	1	1
Interest cost	15	17
Expected return on plan assets	(21)	(21)
Net periodic benefit cost (benefit)	(5)	(3)
Defined benefit plan, contributions by Employer	$ 11	$ 11

Stock Compensation Plans and _3

Stock Compensation Plans and Other Compensation Arrangements (Unaudited) (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted Stock Rights and Restricted Performance Stock Rights Grant Date Aggregate Fair Value	$ 104	$ 100
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted	0.1	0.1
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted	0.2	0.1
Vesting period	3 years
Cash Units and Cash Performance Units | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred Compensation Cash-based Arrangements, Liability, Current and Noncurrent	$ 35	$ 34
Cash Units and Cash Performance Units | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred Compensation Cash-based Arrangements, Liability, Current and Noncurrent	$ 199	$ 191
Cash Performance Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years

Segment Information (Unaudite_3

Segment Information (Unaudited) Reconciliation to Consolidated Operating Income (Details 1) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Revenues	$ 10,133	$ 9,301
Operating income	1,071	947
Total operating costs and expenses	9,062	8,354
Interest and Debt Expense	(146)	(129)
Non-operating FAS pension benefit	168	132
Other, net	38	48
Earnings before income taxes	1,131	998
Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating income	1,104	1,002
Operating Segments [Member] | Aeronautics Systems [Member]
Segment Reporting Information [Line Items]
Revenues	2,969	2,515
Operating income	297	237
Operating Segments [Member] | Defense Systems [Member]
Segment Reporting Information [Line Items]
Revenues	1,412	1,376
Operating income	177	160
Operating Segments [Member] | Mission Systems [Member]
Segment Reporting Information [Line Items]
Revenues	2,659	2,563
Operating income	378	360
Operating Segments [Member] | Space Systems [Member]
Segment Reporting Information [Line Items]
Revenues	3,655	3,350
Operating income	332	313
Intersegment sales
Segment Reporting Information [Line Items]
Revenues	562	503
Operating income	80	68
Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
FAS/CAS operating adjustment	6	(21)
Total operating costs and expenses	$ (39)	$ (34)

Segment Information (Unaudite_4

Segment Information (Unaudited) Sales by Customer Type (Details 2) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue, Major Customer [Line Items]
Revenues	$ 10,133	$ 9,301
Sales percentage	100%	100%
US Government
Revenue, Major Customer [Line Items]
Revenues	$ 8,844	$ 8,012
Sales percentage	87%	86%
US Government | Aeronautics Systems [Member]
Revenue, Major Customer [Line Items]
Revenues	$ 2,525	$ 2,108
Sales percentage	85%	84%
US Government | Defense Systems [Member]
Revenue, Major Customer [Line Items]
Revenues	$ 930	$ 803
Sales percentage	66%	59%
US Government | Mission Systems [Member]
Revenue, Major Customer [Line Items]
Revenues	$ 1,912	$ 1,935
Sales percentage	72%	75%
US Government | Space Systems [Member]
Revenue, Major Customer [Line Items]
Revenues	$ 3,477	$ 3,166
Sales percentage	95%	95%
International(2)
Revenue, Major Customer [Line Items]
Revenues	$ 1,162	$ 1,166
Sales percentage	12%	13%
International(2) | Aeronautics Systems [Member]
Revenue, Major Customer [Line Items]
Revenues	$ 381	$ 331
Sales percentage	13%	13%
International(2) | Defense Systems [Member]
Revenue, Major Customer [Line Items]
Revenues	$ 262	$ 388
Sales percentage	19%	28%
International(2) | Mission Systems [Member]
Revenue, Major Customer [Line Items]
Revenues	$ 454	$ 376
Sales percentage	17%	15%
International(2) | Space Systems [Member]
Revenue, Major Customer [Line Items]
Revenues	$ 65	$ 71
Sales percentage	2%	2%
Other Customers [Member]
Revenue, Major Customer [Line Items]
Revenues	$ 127	$ 123
Sales percentage	1%	1%
Other Customers [Member] | Aeronautics Systems [Member]
Revenue, Major Customer [Line Items]
Revenues	$ 4	$ 11
Sales percentage	0%	0%
Other Customers [Member] | Defense Systems [Member]
Revenue, Major Customer [Line Items]
Revenues	$ 21	$ 16
Sales percentage	1%	1%
Other Customers [Member] | Mission Systems [Member]
Revenue, Major Customer [Line Items]
Revenues	$ 16	$ 15
Sales percentage	1%	1%
Other Customers [Member] | Space Systems [Member]
Revenue, Major Customer [Line Items]
Revenues	$ 86	$ 81
Sales percentage	2%	2%
Intersegment Sales [Member] | Aeronautics Systems [Member]
Revenue, Major Customer [Line Items]
Revenues	$ 59	$ 65
Sales percentage	2%	3%
Intersegment Sales [Member] | Defense Systems [Member]
Revenue, Major Customer [Line Items]
Revenues	$ 199	$ 169
Sales percentage	14%	12%
Intersegment Sales [Member] | Mission Systems [Member]
Revenue, Major Customer [Line Items]
Revenues	$ 277	$ 237
Sales percentage	10%	9%
Intersegment Sales [Member] | Space Systems [Member]
Revenue, Major Customer [Line Items]
Revenues	$ 27	$ 32
Sales percentage	1%	1%
Operating Segments [Member] | Aeronautics Systems [Member]
Revenue, Major Customer [Line Items]
Revenues	$ 2,969	$ 2,515
Sales percentage	100%	100%
Operating Segments [Member] | Defense Systems [Member]
Revenue, Major Customer [Line Items]
Revenues	$ 1,412	$ 1,376
Sales percentage	100%	100%
Operating Segments [Member] | Mission Systems [Member]
Revenue, Major Customer [Line Items]
Revenues	$ 2,659	$ 2,563
Sales percentage	100%	100%
Operating Segments [Member] | Space Systems [Member]
Revenue, Major Customer [Line Items]
Revenues	$ 3,655	$ 3,350
Sales percentage	100%	100%

Segment Information (Unaudite_5

Segment Information (Unaudited) Sales by Contract Type (Details 3) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue, Contract Type [Line Items]
Revenues	$ 10,133	$ 9,301
Sales percentage	100%	100%
Cost-type [Member]
Revenue, Contract Type [Line Items]
Revenues	$ 5,197	$ 5,061
Sales percentage	51%	54%
Cost-type [Member] | Aeronautics Systems [Member]
Revenue, Contract Type [Line Items]
Revenues	$ 1,313	$ 1,231
Sales percentage	45%	50%
Cost-type [Member] | Defense Systems [Member]
Revenue, Contract Type [Line Items]
Revenues	$ 360	$ 423
Sales percentage	30%	35%
Cost-type [Member] | Mission Systems [Member]
Revenue, Contract Type [Line Items]
Revenues	$ 1,067	$ 961
Sales percentage	45%	41%
Cost-type [Member] | Space Systems [Member]
Revenue, Contract Type [Line Items]
Revenues	$ 2,457	$ 2,446
Sales percentage	68%	74%
Fixed-price [Member]
Revenue, Contract Type [Line Items]
Revenues	$ 4,936	$ 4,240
Sales percentage	49%	46%
Fixed-price [Member] | Aeronautics Systems [Member]
Revenue, Contract Type [Line Items]
Revenues	$ 1,597	$ 1,219
Sales percentage	55%	50%
Fixed-price [Member] | Defense Systems [Member]
Revenue, Contract Type [Line Items]
Revenues	$ 853	$ 784
Sales percentage	70%	65%
Fixed-price [Member] | Mission Systems [Member]
Revenue, Contract Type [Line Items]
Revenues	$ 1,315	$ 1,365
Sales percentage	55%	59%
Fixed-price [Member] | Space Systems [Member]
Revenue, Contract Type [Line Items]
Revenues	$ 1,171	$ 872
Sales percentage	32%	26%
Intersegment sales | Aeronautics Systems [Member]
Revenue, Contract Type [Line Items]
Revenues	$ 59	$ 65
Intersegment sales | Defense Systems [Member]
Revenue, Contract Type [Line Items]
Revenues	199	169
Intersegment sales | Mission Systems [Member]
Revenue, Contract Type [Line Items]
Revenues	277	237
Intersegment sales | Space Systems [Member]
Revenue, Contract Type [Line Items]
Revenues	27	32
Operating Segments [Member] | Aeronautics Systems [Member]
Revenue, Contract Type [Line Items]
Revenues	$ 2,969	$ 2,515
Sales percentage	100%	100%
Operating Segments [Member] | Defense Systems [Member]
Revenue, Contract Type [Line Items]
Revenues	$ 1,412	$ 1,376
Sales percentage	100%	100%
Operating Segments [Member] | Mission Systems [Member]
Revenue, Contract Type [Line Items]
Revenues	$ 2,659	$ 2,563
Sales percentage	100%	100%
Operating Segments [Member] | Space Systems [Member]
Revenue, Contract Type [Line Items]
Revenues	$ 3,655	$ 3,350
Sales percentage	100%	100%

Segment Information (Unaudite_6

Segment Information (Unaudited) Sales by Geographic Location (Details 4) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue, Geographic Location [Line Items]
Revenues	$ 10,133	$ 9,301
Sales percentage	100%	100%
United States
Revenue, Geographic Location [Line Items]
Revenues	$ 8,971	$ 8,135
Sales percentage	88%	87%
United States | Aeronautics Systems [Member]
Revenue, Geographic Location [Line Items]
Revenues	$ 2,529	$ 2,119
Sales percentage	87%	87%
United States | Defense Systems [Member]
Revenue, Geographic Location [Line Items]
Revenues	$ 951	$ 819
Sales percentage	78%	67%
United States | Mission Systems [Member]
Revenue, Geographic Location [Line Items]
Revenues	$ 1,928	$ 1,950
Sales percentage	81%	83%
United States | Space Systems [Member]
Revenue, Geographic Location [Line Items]
Revenues	$ 3,563	$ 3,247
Sales percentage	98%	98%
Asia/Pacific
Revenue, Geographic Location [Line Items]
Revenues	$ 359	$ 376
Sales percentage	4%	4%
Asia/Pacific | Aeronautics Systems [Member]
Revenue, Geographic Location [Line Items]
Revenues	$ 149	$ 147
Sales percentage	5%	6%
Asia/Pacific | Defense Systems [Member]
Revenue, Geographic Location [Line Items]
Revenues	$ 71	$ 117
Sales percentage	6%	10%
Asia/Pacific | Mission Systems [Member]
Revenue, Geographic Location [Line Items]
Revenues	$ 126	$ 92
Sales percentage	5%	4%
Asia/Pacific | Space Systems [Member]
Revenue, Geographic Location [Line Items]
Revenues	$ 13	$ 20
Sales percentage	1%	1%
Europe
Revenue, Geographic Location [Line Items]
Revenues	$ 676	$ 547
Sales percentage	7%	6%
Europe | Aeronautics Systems [Member]
Revenue, Geographic Location [Line Items]
Revenues	$ 225	$ 174
Sales percentage	8%	7%
Europe | Defense Systems [Member]
Revenue, Geographic Location [Line Items]
Revenues	$ 154	$ 128
Sales percentage	13%	11%
Europe | Mission Systems [Member]
Revenue, Geographic Location [Line Items]
Revenues	$ 255	$ 200
Sales percentage	11%	9%
Europe | Space Systems [Member]
Revenue, Geographic Location [Line Items]
Revenues	$ 42	$ 45
Sales percentage	1%	1%
All other
Revenue, Geographic Location [Line Items]
Revenues	$ 127	$ 243
Sales percentage	1%	3%
All other | Aeronautics Systems [Member]
Revenue, Geographic Location [Line Items]
Revenues	$ 7	$ 10
Sales percentage	0%	0%
All other | Defense Systems [Member]
Revenue, Geographic Location [Line Items]
Revenues	$ 37	$ 143
Sales percentage	3%	12%
All other | Mission Systems [Member]
Revenue, Geographic Location [Line Items]
Revenues	$ 73	$ 84
Sales percentage	3%	4%
All other | Space Systems [Member]
Revenue, Geographic Location [Line Items]
Revenues	$ 10	$ 6
Sales percentage	0%	0%
Intersegment sales | Aeronautics Systems [Member]
Revenue, Geographic Location [Line Items]
Revenues	$ 59	$ 65
Intersegment sales | Defense Systems [Member]
Revenue, Geographic Location [Line Items]
Revenues	199	169
Intersegment sales | Mission Systems [Member]
Revenue, Geographic Location [Line Items]
Revenues	277	237
Intersegment sales | Space Systems [Member]
Revenue, Geographic Location [Line Items]
Revenues	27	32
Operating Segments [Member] | Aeronautics Systems [Member]
Revenue, Geographic Location [Line Items]
Revenues	$ 2,969	$ 2,515
Sales percentage	100%	100%
Operating Segments [Member] | Defense Systems [Member]
Revenue, Geographic Location [Line Items]
Revenues	$ 1,412	$ 1,376
Sales percentage	100%	100%
Operating Segments [Member] | Mission Systems [Member]
Revenue, Geographic Location [Line Items]
Revenues	$ 2,659	$ 2,563
Sales percentage	100%	100%
Operating Segments [Member] | Space Systems [Member]
Revenue, Geographic Location [Line Items]
Revenues	$ 3,655	$ 3,350
Sales percentage	100%	100%