NORTHROP GRUMMAN CORP /DE/ | 2013 | FY | 3

UNAUDITED SELECTED QUARTERLY DATA
Unaudited quarterly financial results are set forth in the following tables. It is the company’s long-standing practice to establish actual interim closing dates using a “fiscal” calendar, which requires the businesses to close their books on a Friday, in order to normalize the potentially disruptive effects of quarterly close on business processes. The effects of this practice only exist within a reporting year.
2013
 
 
In millions, except per share amounts
 
1st Qtr
 
2nd Qtr
 
3rd Qtr
 
4th Qtr
Sales
 

$6,104

 

$6,294

 

$6,106

 

$6,157

Operating income
 
759

 
806

 
790

 
768

Net earnings
 
489

 
488

 
497

 
478

 
 
 
 
 
 
 
 
 
Basic earnings per share
 
2.07

 
2.09

 
2.18

 
2.17

Diluted earnings per share
 
2.03

 
2.05

 
2.14

 
2.12

 
 
 
 
 
 
 
 
 
Weighted-average common shares outstanding
 
236.4

 
234.0

 
228.2

 
220.5

Weighted-average diluted shares outstanding
 
241.0

 
237.5

 
232.6

 
225.2


Significant 2013 Fourth Quarter Events – In the fourth quarter of 2013, the company repurchased 6.6 million shares of common stock for $699 million.
2012
 
 
In millions, except per share amounts
 
1st Qtr
 
2nd Qtr
 
3rd Qtr
 
4th Qtr
Sales
 

$6,198

 

$6,274

 

$6,270

 

$6,476

Operating income
 
796

 
774

 
736

 
824

Net earnings
 
506

 
480

 
459

 
533

 
 
 
 
 
 
 
 
 
Basic earnings per share
 
2.00

 
1.91

 
1.86

 
2.19

Diluted earnings per share
 
1.96

 
1.88

 
1.82

 
2.14

 
 
 
 
 
 
 
 
 
Weighted-average common shares outstanding
 
253.1

 
250.8

 
247.2

 
243.4

Weighted-average diluted shares outstanding
 
258.0

 
254.7

 
252.1

 
248.9

Significant 2012 Fourth Quarter Events – In the fourth quarter of 2012, the company repurchased 7.3 million shares of common stock for $487 million.

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