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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 | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 470.22 | 28 | 12:00:00 |
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
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FINANCIAL STATEMENTS
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SUPPLEMENTAL SCHEDULE
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NORTHROP GRUMMAN SAVINGS PLAN
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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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||||||
$ in thousands
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2016
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2015
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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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19,091,278
|
|
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$
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17,559,423
|
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Investment in brokerage account—at fair value
|
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1,514,769
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|
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1,501,041
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||
Short-term investment—at fair value
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8,438
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20,456
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||
Total investments
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20,614,485
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19,080,920
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Receivables:
|
|
|
|
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||||
Participant contributions
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27,003
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24,957
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||
Employer contributions
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11,708
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|
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10,325
|
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Notes receivable from participants
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218,467
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234,554
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Total receivables
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257,178
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269,836
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Total assets
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20,871,663
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19,350,756
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Liabilities:
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Accrued expenses
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2,035
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4,215
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Net assets available for benefits
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$
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20,869,628
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$
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19,346,541
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NORTHROP GRUMMAN SAVINGS PLAN
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STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
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Year Ended
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$ in thousands
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December 31, 2016
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||
Additions:
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Investment income:
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|
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Plan interest in the Northrop Grumman Defined Contribution Plans Master Trust
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$
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1,756,972
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Other investments:
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|
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Net appreciation in fair value of other investments
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67,347
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Dividends
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34,005
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|
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Interest
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598
|
|
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Interest income on notes receivable from participants
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8,784
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Contributions:
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|
||
Participant contributions
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763,482
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|
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Rollover contributions
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86,776
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Employer contributions
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308,595
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Total additions
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3,026,559
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Deductions:
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Benefits paid to participants
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1,485,516
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Expenses
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17,956
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Total deductions
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1,503,472
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Increase in net assets
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1,523,087
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Net assets available for benefits
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Beginning of year
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19,346,541
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End of year
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$
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20,869,628
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Employee Contribution
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Company
Match
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First 2% of eligible compensation
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100
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%
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Next 2% of eligible compensation
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50
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Next 4% of eligible compensation
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25
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Contributions over 8%
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—
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Employee Contribution
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Company
Match
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First 4% of eligible compensation
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100
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%
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Next 1% of eligible compensation up to 8% or 10% (depending on years of service)
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50
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Contributions over 8% (for employees with up to 5 years of service)
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—
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Contributions over 10% (for employees with 5 or more years of service)
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—
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$ in thousands
|
|
2016
|
|
2015
|
||||
Assets
|
|
|
|
|
||||
At fair value:
|
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|
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|
||||
Cash equivalents and short-term investment fund
|
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$
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58,874
|
|
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$
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212,936
|
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U.S. and international equities
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2,926,772
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|
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2,464,196
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Common/collective trust funds
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12,071,358
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|
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11,066,281
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Fixed-income securities
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|
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U.S. and foreign government
|
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357,587
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351,712
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Corporate debt
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281,066
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265,796
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Asset-backed
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244,608
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247,737
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High yield debt
|
|
954
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2,851
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Collateral held under securities lending agreements
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960,767
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757,221
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Assets on loan to third-party borrowers
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219,523
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197,067
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Total investments at fair value
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17,121,509
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15,565,797
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At contract value:
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Guaranteed investment contracts
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3,485,775
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3,332,971
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Total investments at contract value
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3,485,775
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3,332,971
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Receivable from broker for investments sold
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4,236
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7,743
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Dividends, interest, taxes and other receivables
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7,039
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|
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6,982
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|
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Total assets
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20,618,559
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18,913,493
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Liabilities
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|
|
|
|
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Collateral held under securities lending agreements
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960,767
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757,221
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Due to broker for securities purchased
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36,243
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58,766
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Total liabilities
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997,010
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815,987
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Net assets of the DC Master Trust
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$
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19,621,549
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$
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18,097,506
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$ in thousands
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2016
|
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Investment income
|
|
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Net appreciation of investments
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$
|
1,635,522
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Interest
|
117,434
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Dividends
|
45,107
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|
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Other income
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4,534
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Stock loan income
|
392
|
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Investment manager fees
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(6,716
|
)
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Total investment income
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$
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1,796,273
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2016
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||||||||||
$ 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
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|
||||||
Cash equivalents and short-term investment fund
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$
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3,180
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$
|
55,694
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$
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58,874
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U.S. and international equities
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2,926,772
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—
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2,926,772
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Fixed-income securities
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|
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U.S. and foreign government
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—
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539,716
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539,716
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Corporate debt
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—
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318,460
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318,460
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Asset-backed
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—
|
|
|
244,608
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244,608
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|
|||
High yield debt
|
|
—
|
|
|
954
|
|
|
954
|
|
|||
Collateral held under securities lending agreements
|
|
—
|
|
|
960,767
|
|
|
960,767
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|
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Common/collective trust funds valued using NAV as a practical expedient
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|
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|
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12,071,358
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|||||
Total DC Master Trust at fair value
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$
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2,929,952
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$
|
2,120,199
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$
|
17,121,509
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|
|
|
2016
|
||||||||||
$ in thousands
|
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Level 1
|
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Level 2
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Total
|
||||||
Other Plan investments
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|
|
|
|
|
|
||||||
Brokerage account
|
|
$
|
1,514,769
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|
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$
|
—
|
|
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$
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1,514,769
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State Street Bank and Trust Company short-term investment fund
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—
|
|
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8,438
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|
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8,438
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Total other Plan investments
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$
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1,514,769
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$
|
8,438
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$
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1,523,207
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2015
|
||||||||||
$ in thousands
|
|
Level 1
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|
Level 2
|
|
Total
|
||||||
DC Master Trust at fair value
|
|
|
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|
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|
||||||
Cash equivalents and short-term investment fund
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$
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13,915
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|
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$
|
199,021
|
|
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$
|
212,936
|
|
U.S. and international equities
|
|
2,464,196
|
|
|
—
|
|
|
2,464,196
|
|
|||
Fixed-income securities
|
|
|
|
|
|
|
||||||
U.S. and foreign government
|
|
—
|
|
|
523,307
|
|
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523,307
|
|
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Corporate debt
|
|
—
|
|
|
291,268
|
|
|
291,268
|
|
|||
Asset-backed
|
|
—
|
|
|
247,737
|
|
|
247,737
|
|
|||
High yield debt
|
|
—
|
|
|
2,851
|
|
|
2,851
|
|
|||
Collateral held under securities lending agreements
|
|
—
|
|
|
757,221
|
|
|
757,221
|
|
|||
Common/collective trust funds valued using NAV as a practical expedient
|
|
|
|
|
|
11,066,281
|
|
|||||
Total DC Master Trust at fair value
|
|
$
|
2,478,111
|
|
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$
|
2,021,405
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|
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$
|
15,565,797
|
|
|
|
2015
|
||||||||||
$ in thousands
|
|
Level 1
|
|
Level 2
|
|
Total
|
||||||
Other Plan investments
|
|
|
|
|
|
|
||||||
Brokerage account
|
|
$
|
1,489,180
|
|
|
$
|
11,861
|
|
|
$
|
1,501,041
|
|
State Street Bank and Trust Company short-term investment fund
|
|
—
|
|
|
20,456
|
|
|
20,456
|
|
|||
Total other Plan investments
|
|
$
|
1,489,180
|
|
|
$
|
32,317
|
|
|
$
|
1,521,497
|
|
|
|
December 31
|
||||||
$ in thousands
|
|
2016
|
|
2015
|
||||
Fair value of asset
|
|
$
|
1,300
|
|
|
$
|
501
|
|
Fair value of liability
|
|
(667
|
)
|
|
(914
|
)
|
||
Notional amount
|
|
55,987
|
|
|
(46,210
|
)
|
|
|
December 31
|
||||||
$ in thousands
|
|
2016
|
|
2015
|
||||
Underlying securities of guaranteed investment contracts
|
|
$
|
721,326
|
|
|
$
|
545,449
|
|
Fixed-income securities
|
|
|
|
|
|
|
||
U.S. and foreign government
|
|
182,129
|
|
|
171,595
|
|
||
Corporate debt
|
|
37,394
|
|
|
25,472
|
|
||
Total fixed-income securities
|
|
219,523
|
|
|
197,067
|
|
||
DC Master Trust Assets on loan to third-party borrowers
|
|
$
|
940,849
|
|
|
$
|
742,516
|
|
|
|
December 31
|
||||||
$ in thousands
|
|
2016
|
|
2015
|
||||
Net assets available for benefits per the financial statements
|
|
$
|
20,869,628
|
|
|
$
|
19,346,541
|
|
Less amounts allocated to withdrawing participants
|
|
(3,060
|
)
|
|
(3,085
|
)
|
||
Net assets available for benefits per Form 5500
|
|
$
|
20,866,568
|
|
|
$
|
19,343,456
|
|
$ in thousands
|
|
||
Benefits paid to participants per the financial statements
|
$
|
1,485,516
|
|
Add amounts allocated to withdrawing participants at December 31, 2016
|
3,060
|
|
|
Less amounts allocated to withdrawing participants at December 31, 2015
|
(3,085
|
)
|
|
Benefits paid to participants per Form 5500
|
$
|
1,485,491
|
|
$ 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
|
|
**
|
|
$
|
19,091,278
|
|
*
|
|
Fidelity Brokerage Services LLC
|
|
BrokerageLink Account
|
|
**
|
|
1,514,769
|
|
|
*
|
|
Plan Participants
|
|
Participant loans (maturing from 2017 to 2034 at interest rates ranging from 4 percent to 11.5 percent)
|
|
**
|
|
218,467
|
|
|
*
|
|
State Street Bank and Trust Company
|
|
State Street Bank and Trust Company short-term investment fund
|
|
**
|
|
8,438
|
|
|
|
|
Total
|
|
|
|
|
|
$
|
20,832,952
|
|
|
|
|
*
|
|
Party-in-interest
|
**
|
|
Cost information is not required for participant-directed investments and loans, and therefore is not included.
|
|
|
|
|
|
|
|
|
|
NORTHROP GRUMMAN SAVINGS PLAN
|
||||
|
|
|
|
|||
Dated: June 9, 2017
|
|
|
|
By:
|
|
/s/ Michael A. Hardesty
|
|
|
|
|
|
|
Michael A. 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 |
1 Month Northrop Grumman Chart |
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