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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2016
Dec. 31, 2015
Current Assets    
Cash and cash equivalents $ 410.3 $ 208.5
Accounts receivable 136.4 169.5
Inventories 185.1 156.2
Recoverable from the U.S. government and other third parties for environmental remediation costs 25.2 24.0
Receivable from Northrop Grumman Corporation (“Northrop”) 6.0 6.0
Other current assets, net 91.7 69.2
Total Current Assets 854.7 633.4
Noncurrent Assets    
Property, plant and equipment, net 366.0 363.3
Real estate held for entitlement and leasing 91.8 86.2
Recoverable from the U.S. government and other third parties for environmental remediation costs 239.8 207.2
Receivable from Northrop 62.0 63.2
Deferred income taxes 292.5 324.8
Goodwill 158.1 158.1
Intangible assets 94.4 107.7
Other noncurrent assets, net 90.2 81.6
Total Noncurrent Assets 1,394.8 1,392.1
Total Assets 2,249.5 2,025.5
Current Liabilities    
Short-term borrowings and current portion of long-term debt 55.6 5.3
Accounts payable 96.2 64.2
Reserves for environmental remediation costs 37.1 32.6
Postretirement medical and life insurance benefits 5.2 6.0
Advance payments on contracts 221.8 230.9
Other current liabilities 167.8 203.1
Total Current Liabilities 583.7 542.1
Noncurrent Liabilities    
Long-term debt 608.0 633.7
Reserves for environmental remediation costs 312.6 269.7
Pension benefits 548.2 580.6
Postretirement medical and life insurance benefits 37.4 44.8
Other noncurrent liabilities 124.0 95.2
Total Noncurrent Liabilities 1,630.2 1,624.0
Total Liabilities 2,213.9 2,166.1
Commitments and contingencies (Note 7)
Redeemable common stock, par value of $0.10; 0.1 million shares issued and outstanding as of December 31, 2016 and 2015 1.1 1.6
Stockholders’ Equity (Deficit)    
Preference stock, par value of $1.00; 15.0 million shares authorized; none issued or outstanding 0.0 0.0
Common stock, par value of $0.10; 150.0 million shares authorized; 69.2 million shares issued and outstanding as of December 31, 2016; 62.9 million shares issued and outstanding as of December 31, 2015 6.9 6.5
Other capital 456.9 342.6
Treasury stock at cost, 3.5 million shares as of December 31, 2016 and 2015 (64.5) (64.5)
Accumulated deficit (61.8) (79.8)
Accumulated other comprehensive loss, net of income taxes (303.0) (347.0)
Total Stockholders’ Equity (Deficit) 34.5 (142.2)
Total liabilities, redeemable common stock, and stockholders’ (deficit) equity $ 2,249.5 $ 2,025.5