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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Northrop Grumman Corp Holding Co | NYSE:NOC | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-5.91 | -1.24% | 469.09 | 477.52 | 465.23 | 475.65 | 1,443,464 | 01:00:00 |
þ
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ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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¨
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TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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A.
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Full title of the plan and address of the plan, if different from that of the issuer named below:
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B.
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Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:
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TABLE OF CONTENTS
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Page(s)
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FINANCIAL STATEMENTS
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SUPPLEMENTAL SCHEDULE
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NORTHROP GRUMMAN FINANCIAL SECURITY AND SAVINGS PROGRAM
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STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
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|||||||||||||||||||||
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December 31
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|||||||||||||||||||||||
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2015
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2014
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|||||||||||||||||||||
$ in thousands
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Retirement Account (1)
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Savings Account (2)
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Total
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Retirement Account (1)
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Savings Account (2)
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Total
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|||||||||||||
Assets:
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Investments:
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|||||||||||||
Investment in Northrop Grumman Defined Contribution Plans Master Trust (Note 3)
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$
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205,624
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$
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332,459
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$
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538,083
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$
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220,666
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$
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348,260
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$
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568,926
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Short-term investment-at fair value
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—
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|
|
4,112
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|
|
4,112
|
|
|
—
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|
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4,387
|
|
|
4,387
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|||||||
Total investments
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205,624
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336,571
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542,195
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|
220,666
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|
352,647
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573,313
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|||||||
Notes receivable from participants
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—
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2,668
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|
|
2,668
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|
|
—
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2,897
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2,897
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|||||||
Total assets
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205,624
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339,239
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544,863
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220,666
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355,544
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576,210
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|||||||
Liabilities:
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|
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|
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|||||||||||||
Due to Northrop Grumman Retirement Plan “B”
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809
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—
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809
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—
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—
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—
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|||||||
Accrued expenses
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14
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67
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81
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15
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39
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54
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|||||||
Total liabilities
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823
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67
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890
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15
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39
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54
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Net assets available for benefits
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$
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204,801
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$
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339,172
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$
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543,973
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$
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220,651
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$
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355,505
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$
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576,156
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NORTHROP GRUMMAN FINANCIAL SECURITY AND SAVINGS PROGRAM
|
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||||||||||
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||||||
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
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||||||||||
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||||||
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Year Ended December 31, 2015
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||||||||||
$ in thousands
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Retirement Account (1)
|
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Savings Account (2)
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Total
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||||||
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|||||||||||
Additions:
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||||||
Investment Income:
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||||||
Plan interest in the Northrop Grumman Defined Contribution Plans Master Trust
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$
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1,575
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$
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4,853
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$
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6,428
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Interest income from short-term investment
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—
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1
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1
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|||
Interest income on notes receivable from participants
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—
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112
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112
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Total additions
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1,575
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4,966
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6,541
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Deductions:
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Benefits paid to participants
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8,992
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20,534
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29,526
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Other expenses
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254
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765
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1,019
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Total deductions
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9,246
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21,299
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30,545
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Decrease in net assets
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(7,671
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)
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(16,333
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)
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(24,004
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)
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Transfers to Northrop Grumman Retirement Plan “B”
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(8,179
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)
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—
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(8,179
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)
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Net assets available for benefits
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Beginning of year
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220,651
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355,505
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576,156
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End of year
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$
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204,801
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$
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339,172
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$
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543,973
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$ in thousands
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2015
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2014
|
||||
Assets
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At fair value:
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Cash equivalents and short-term investment fund
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$
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212,936
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$
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107,179
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Equities-common and preferred stock
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2,464,196
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1,978,495
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Common/collective trust funds
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11,066,281
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11,248,858
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Fixed income securities
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868,096
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873,101
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Collateral held under securities lending agreements
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757,221
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870,390
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Assets on loan to third-party borrowers
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197,067
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192,073
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Total investments at fair value
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15,565,797
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15,270,096
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At contract value:
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Guaranteed investment contracts
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3,332,971
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3,298,776
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Total investments at contract value
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3,332,971
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3,298,776
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Receivable from broker for investments sold
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7,743
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2,485
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Dividends, interest, taxes and other receivables
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6,982
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7,066
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Total assets
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18,913,493
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18,578,423
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Liabilities
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Collateral held under securities lending agreements
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757,221
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870,390
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Due to broker for securities purchased
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58,766
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31,826
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Total liabilities
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815,987
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902,216
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Net assets of the DC Master Trust
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$
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18,097,506
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$
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17,676,207
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$ in thousands
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2015
|
||
Investment income
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|
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Net appreciation of investments
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$
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412,230
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Interest
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115,909
|
|
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Dividends
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41,178
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Other income
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2,835
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Stock loan income
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404
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Investment manager fees
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(9,067
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)
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Total investment income
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$
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563,489
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|
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December 31
|
||||||
$ in thousands
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2015
|
|
2014
|
||||
Underlying securities of guaranteed investment contracts
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$
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545,449
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$
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661,685
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Fixed income
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|
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|
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U.S. and foreign government securities
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171,595
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157,766
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Corporate debt instruments
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25,472
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34,307
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Total fixed income
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197,067
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192,073
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DC Master Trust Assets on loan to third-party borrowers
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$
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742,516
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$
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853,758
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December 31
|
||||||
$ in thousands
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2015
|
|
2014
|
||||
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Interest Rate Contracts
|
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Interest Rate Contracts
|
||||
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U.S. Treasury Futures
|
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U.S. Treasury Futures
|
||||
Fair value of asset
|
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$
|
501
|
|
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$
|
322
|
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Fair value of liability
|
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(914
|
)
|
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(3,842
|
)
|
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Notional amount
|
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(46,210
|
)
|
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(84,611
|
)
|
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2015
|
||||||||||
($ in thousands)
|
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Level 1
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Level 2
|
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Total
|
||||||
DC Master Trust at fair value
|
|
|
|
|
|
|
||||||
Cash equivalents and short-term investment fund
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$
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13,915
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$
|
199,021
|
|
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$
|
212,936
|
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Equities-common and preferred stock
|
|
2,464,196
|
|
|
—
|
|
|
2,464,196
|
|
|||
Fixed income securities
|
|
—
|
|
|
1,065,163
|
|
|
1,065,163
|
|
|||
Collateral held under securities lending agreements
|
|
—
|
|
|
757,221
|
|
|
757,221
|
|
|||
Common/collective trust funds valued using NAV as a practical expedient
|
|
|
|
|
|
11,066,281
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|
|||||
Total DC Master Trust at fair value
|
|
$
|
2,478,111
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|
|
$
|
2,021,405
|
|
|
$
|
15,565,797
|
|
|
|
2015
|
||||||||||
($ in thousands)
|
|
Level 1
|
|
Level 2
|
|
Total
|
||||||
Other Plan investments
|
|
|
|
|
|
|
||||||
State Street Bank and Trust Company short-term investment fund
|
|
$
|
—
|
|
|
$
|
4,112
|
|
|
$
|
4,112
|
|
Total other Plan investments
|
|
$
|
—
|
|
|
$
|
4,112
|
|
|
$
|
4,112
|
|
|
|
2014
|
||||||||||
($ in thousands)
|
|
Level 1
|
|
Level 2
|
|
Total
|
||||||
DC Master Trust at fair value
|
|
|
|
|
|
|
||||||
Cash equivalents and short-term investment fund
|
|
$
|
6,308
|
|
|
$
|
100,871
|
|
|
$
|
107,179
|
|
Equities-common and preferred stock
|
|
1,978,495
|
|
|
—
|
|
|
1,978,495
|
|
|||
Fixed income securities
|
|
—
|
|
|
1,065,174
|
|
|
1,065,174
|
|
|||
Collateral held under securities lending agreements
|
|
—
|
|
|
870,390
|
|
|
870,390
|
|
|||
Common/collective trust funds valued using NAV as a practical expedient
|
|
|
|
|
|
11,248,858
|
|
|||||
Total DC Master Trust at fair value
|
|
$
|
1,984,803
|
|
|
$
|
2,036,435
|
|
|
$
|
15,270,096
|
|
|
|
2014
|
||||||||||
($ in thousands)
|
|
Level 1
|
|
Level 2
|
|
Total
|
||||||
Other Plan investments
|
|
|
|
|
|
|
||||||
State Street Bank and Trust Company short-term investment fund
|
|
$
|
—
|
|
|
$
|
4,387
|
|
|
$
|
4,387
|
|
Total other Plan investments
|
|
$
|
—
|
|
|
$
|
4,387
|
|
|
$
|
4,387
|
|
|
|
December 31
|
||||||
$ in thousands
|
|
2015
|
|
2014
|
||||
Guaranteed investment contracts- at contract value
|
|
$
|
3,332,971
|
|
|
$
|
3,298,776
|
|
Cash and cash equivalents
|
|
156,851
|
|
|
70,691
|
|
||
Total
|
|
$
|
3,489,822
|
|
|
$
|
3,369,467
|
|
|
|
December 31
|
||||||
$ in thousands
|
|
2015
|
|
2014
|
||||
Net assets available for benefits per the financial statements
|
|
$
|
543,973
|
|
|
$
|
576,156
|
|
Less amounts allocated to withdrawing participants
|
|
(895
|
)
|
|
(599
|
)
|
||
Net assets available for benefits per Form 5500
|
|
$
|
543,078
|
|
|
$
|
575,557
|
|
$ in thousands
|
|
||
Benefits paid to participants per the financial statements
|
$
|
29,526
|
|
Add amounts allocated to withdrawing participants at December 31, 2015
|
895
|
|
|
Less amounts allocated to withdrawing participants at December 31, 2014
|
(599
|
)
|
|
Benefits paid to participants per Form 5500
|
$
|
29,822
|
|
$ in thousands
|
||||||||||
|
|
Identity of Issuer, Borrower,
Lessor, or Similar Party
|
|
Description of Investment,
Including Maturity Date, Rate of
Interest, Collateral, and Par or
Maturity Value
|
|
Cost
|
|
Current
Value
|
||
*
|
|
Northrop Grumman Defined Contribution Plans Master Trust
|
|
Participation in Northrop Grumman Defined Contribution Plans Master Trust
|
|
**
|
|
$
|
538,083
|
|
*
|
|
Plan Participants
|
|
Participant loans (maturing 2016 to 2027 at interest rates ranging from 4.25 percent to 8.75 percent)
|
|
**
|
|
2,668
|
|
|
*
|
|
State Street Bank and Trust Company
|
|
State Street Bank and Trust Company short-term investment fund
|
|
**
|
|
4,112
|
|
|
|
|
Total
|
|
|
|
|
|
$
|
544,863
|
|
*
|
|
Party-in-interest
|
**
|
|
Cost information is not required for participant-directed investments and loans, and therefore is not included.
|
|
|
|
|
|
|
|
|
|
NORTHROP GRUMMAN FINANCIAL SECURITY AND SAVINGS PROGRAM
|
||||
|
|
|
|
|||
Dated: June 13, 2016
|
|
|
|
By:
|
|
/s/ Michael Hardesty
|
|
|
|
|
|
|
Michael Hardesty
Chairman, Audit Subcommittee of the Benefit Plans Administrative Committee |
*23
|
Consent of Independent Registered Public Accounting Firm
|
|
|
*
|
Filed with this report
|
1 Year Northrop Grumman Chart |
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