XML 14 R4.htm IDEA: XBRL DOCUMENT v3.4.0.3
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2016
Dec. 31, 2015
Nov. 30, 2015
Current Assets      
Cash and cash equivalents $ 155.5 $ 208.5 $ 211.1
Accounts receivable 182.3 169.5 171.5
Inventories 170.6 156.2 157.5
Recoverable from the U.S. government and other third parties for environmental remediation costs 27.1 24.0 24.0
Other current assets, net 70.8 69.2 64.4
Deferred income taxes 36.7 36.5 28.1
Total Current Assets 649.0 669.9 662.6
Noncurrent Assets      
Property, plant and equipment, net 359.4 363.3 365.8
Real estate held for entitlement and leasing 87.3 86.2 86.2
Recoverable from the U.S. government and other third parties for environmental remediation costs 201.9 207.2 210.4
Deferred income taxes 286.2 288.3 286.7
Goodwill 158.1 158.1 158.1
Intangible assets 104.3 107.7 108.8
Other noncurrent assets, net 79.1 81.6 82.0
Total Noncurrent Assets 1,339.0 1,355.6 1,360.7
Total Assets 1,988.0 2,025.5 2,023.3
Current Liabilities      
Short-term borrowings and current portion of long-term debt, net of deferred financing costs 5.2 5.3 5.3
Accounts payable 86.7 64.2 105.2
Reserves for environmental remediation costs 37.1 32.6 32.6
Postretirement medical and life insurance benefits 6.0 6.0 6.0
Advance payments on contracts 200.8 230.9 203.7
Other current liabilities 180.5 203.1 201.3
Total Current Liabilities 516.3 542.1 554.1
Noncurrent Liabilities      
Senior debt, net of deferred financing costs 85.6 86.8 88.1
Second-priority senior notes, net of deferred financing costs 450.0 449.4 449.4
Convertible subordinated notes 84.8 84.8 84.8
Other debt, net of deferred financing costs 0.0 12.7 12.8
Reserves for environmental remediation costs 262.2 269.7 273.5
Pension benefits 575.0 580.6 566.2
Postretirement medical and life insurance benefits 44.1 44.8 45.5
Other noncurrent liabilities 94.0 95.2 94.4
Total Noncurrent Liabilities 1,595.7 1,624.0 1,614.7
Total Liabilities $ 2,112.0 $ 2,166.1 $ 2,168.8
Commitments and contingencies
Redeemable common stock, par value of $0.10; 0.1 million shares issued and outstanding as of March 31, 2016, December 31, 2015, and November 30, 2015 $ 1.3 $ 1.6 $ 0.9
Stockholders’ Deficit      
Preference stock, par value of $1.00; 15.0 million shares authorized; none issued or outstanding 0.0 0.0 0.0
Common stock, par value of $0.10; 150.0 million shares authorized; 63.1 million shares issued and outstanding as of March 31, 2016; 62.9 million shares issued and outstanding as of December 31, 2015 and November 30, 2015 6.5 6.5 6.5
Other capital 345.3 342.6 340.1
Treasury stock at cost, 3.5 million shares as of March 31, 2016, December 31, 2015 and November 30, 2015 (64.5) (64.5) (64.5)
Accumulated deficit (74.7) (79.8) (86.8)
Accumulated other comprehensive loss, net of income taxes (337.9) (347.0) (341.7)
Total Stockholders’ Deficit (125.3) (142.2) (146.4)
Total Liabilities, Redeemable Common Stock and Stockholders’ Deficit 1,988.0 2,025.5 2,023.3
Northrop [Member]      
Current Assets      
Receivable from Northrop Grumman Corporation (“Northrop”) 6.0 6.0 6.0
Noncurrent Assets      
Receivable from Northrop $ 62.7 $ 63.2 $ 62.7