Northrop Grumman Corp., Los Angeles, expects its pension income this year to total $95 million, a big drop from the $337 million it reported in 2001. The company made the estimate in reporting its first-quarter net income of $149 million, which reflects, in part, a "substantial decrease in pension income.”
The company’s operating margin of $313 million for the quarter includes $24 million in pension income, "significantly lower than the $69 million reported in the first quarter of 2001.”
Northrop Grumman has an estimated $14.9 billion in defined benefit assets.
