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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2017
Dec. 31, 2016
Current Assets    
Cash and cash equivalents $ 382.1 $ 410.3
Accounts receivable 202.2 136.4
Inventories 160.4 185.1
Recoverable from the U.S. government and other third parties for environmental remediation costs 23.2 25.2
Receivable from Northrop Grumman Corporation (“Northrop”) 6.0 6.0
Other current assets, net 96.4 91.7
Total Current Assets 870.3 854.7
Noncurrent Assets    
Property, plant and equipment, net 361.4 366.0
Real estate held for entitlement and leasing 92.3 91.8
Recoverable from the U.S. government and other third parties for environmental remediation costs 237.7 239.8
Receivable from Northrop 61.7 62.0
Deferred income taxes 284.3 292.5
Goodwill 159.9 158.1
Intangible assets 95.5 94.4
Other noncurrent assets, net 92.1 90.2
Total Noncurrent Assets 1,384.9 1,394.8
Total Assets 2,255.2 2,249.5
Current Liabilities    
Current portion of long-term debt 19.9 55.6
Accounts payable 98.2 96.2
Reserves for environmental remediation costs 36.0 37.1
Postretirement medical and life insurance benefits 5.2 5.2
Advance payments on contracts 208.6 221.8
Other current liabilities 181.7 167.8
Total Current Liabilities 549.6 583.7
Noncurrent Liabilities    
Long-term debt 604.9 608.0
Reserves for environmental remediation costs 309.5 312.6
Pension benefits 540.8 548.2
Postretirement medical and life insurance benefits 36.7 37.4
Other noncurrent liabilities 124.8 124.0
Total Noncurrent Liabilities 1,616.7 1,630.2
Total Liabilities 2,166.3 2,213.9
Commitments and contingencies (Note 8)
Redeemable common stock, par value of $0.10; less than 0.1 million shares issued and outstanding as of March 31, 2017; 0.1 million shares issued and outstanding as of December 31, 2016 0.1 1.1
Stockholders’ Equity    
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; 73.5 million shares issued and outstanding as of March 31, 2017; 69.2 million shares issued and outstanding as of December 31, 2016 7.3 6.9
Other capital 495.2 456.9
Treasury stock at cost, 3.5 million shares as of March 31, 2017 and December 31, 2016 (64.5) (64.5)
Accumulated deficit (55.9) (61.8)
Accumulated other comprehensive loss, net of income taxes (293.3) (303.0)
Total Stockholders’ Equity 88.8 34.5
Total Liabilities, Redeemable Common Stock and Stockholders’ Equity $ 2,255.2 $ 2,249.5