Northrop Grumman(US:NOC)2025-01-30 21:11Financial Performance - Total sales for the year ended December 31, 2024, were $41.033 billion, with 51% from cost-type contracts and 49% from fixed-price contracts[50]. - Total backlog as of December 31, 2024, was $91.5 billion, up from $84.2 billion at the end of 2023, representing an increase of approximately 15.5%[31]. - The company has $16.3 billion in long-term debt, primarily consisting of fixed-rate debt, with a fair value of approximately $15.3 billion[284]. Employee Metrics - The company hired approximately 7,400 new employees in 2024, bringing the total employee count to approximately 97,000 as of December 31, 2024[34]. - Approximately 4,100 employees are covered by 15 collective agreements, with five renewals negotiated in 2024 and seven expected in 2025[43]. - In 2024, 80% of employees participated in the annual Employee Experience Survey, indicating strong engagement and feedback mechanisms[35]. Risk Management - Foreign currency forward contracts with a notional amount of $399 million were outstanding as of December 31, 2024, to manage exchange rate risks[285]. - The company faced challenges with access to certain raw materials due to macroeconomic factors, but these have not materially impacted contract performance[33]. - The company’s fixed-price contracts may carry higher profit margins but also involve more financial risk associated with unanticipated cost growth[48]. Investment and Market Exposure - At December 31, 2024, the company had a portfolio of marketable securities valued at $347 million, exposing it to market volatilities[283].