SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 11-K
(Amendment No. 1)
ANNUAL REPORT PURSUANT TO SECTION 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934
[X] Annual report pursuant to Section 15 (d) of the Securities
Exchange Act of 1934 (No fee required)
For the period ended December 31, 1999.
OR
[ ] Transition report pursuant to SECTION 15 (d) of the Securities Exchange Act
of 1934 (No fee required)
For the transition period from __________ to ____________
Commission file number 1-3229
A. Full title of the plan and the address of the plan, if different from
that of the issuer named below:
EMPLOYEES' STOCK PURCHASE PLAN OF LOGICON, INC.
Logicon, Inc.
3701 Skypark Drive
Torrance, California 90505
B. Name of issuer of the securities held pursuant to the Plan and the
address of its principal executive office:
NORTHROP GRUMMAN CORPORATION
1840 Century Park East
Los Angeles, California 90067
The undersigned hereby amends the Statements of Income and Changes in Plan
Equity of its Annual Report on Form 11-K filed with the Commission on March 30,
2000 to read as follows:
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EMPLOYEES' STOCK PURCHASE PLAN OF LOGICON, INC.
STATEMENTS OF INCOME AND CHANGES IN PLAN EQUITY
YEARS ENDED DECEMBER 31, 1999 (LIQUIDATION BASIS), 1998 AND 1997
- ----------------------------------------------------------------------------------------------------
<CAPTION>
1999 1998 1997
<S> <C> <C> <C>
ADDITIONS:
Investment income:
Dividend income $ 338,590 $ 331,321 $ 256,332
Interest income 19,574 16,836 18,864
Net realized and unrealized appreciation in
market value of Logicon, Inc. common stock 13,199,447
Net realized and unrealized (depreciation)
appreciation in market value of Northrop
Grumman Corporation common stock (5,021,276) (7,694,223) 230,946
Contributions by participants 6,344,164 6,072,697 5,460,278
Contributions by Logicon, Inc., net of participant
forfeitures of $291,010, $754,405 and $783,459 2,938,668 2,169,065 1,846,696
------------ ------------ ------------
4,619,720 895,696 21,012,563
------------ ------------ ------------
DEDUCTIONS:
Participant withdrawals 1,713,240 3,317,793 2,564,383
Distributions to participants 5,079,685 10,626,339 5,431,944
Distributions of dividends and interest 237,772 232,968 203,268
------------ ------------ ------------
7,030,697 14,177,100 8,199,595
------------ ------------ ------------
DISTRIBUTIONS TO PARTICIPANTS UPON
PLAN TERMINATION (Note 5) 15,909,805
------------
(DECREASE) INCREASE IN PLAN EQUITY (18,320,782) (13,281,404) 12,812,968
PLAN EQUITY:
Beginning of period 18,320,782 31,602,186 18,789,218
------------ ------------ ------------
End of period $ - $ 18,320,782 $ 31,602,186
============ ============ ============
See notes to financial statements.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
trustees (or other persons who administer the employee benefit plan) have duly
caused this annual report to be signed on its behalf by the undersigned hereunto
duly authorized.
EMPLOYEES' STOCK PURCHASE PLAN OF LOGICON, INC.
/s/ Steve Movius
-------------------------------------
Dated: April 5, 2000 By Steve Movius
Chief Financial Officer
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Exhibit 1
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INDEPENDENT AUDITORS' CONSENT
We consent to the incorporation by reference in Registration Statement
No. 333-34717 of Northrop Grumman Corporation on Form S-8 of our report
dated March 30, 2000, appearing in this Annual Report on Form 11-K/A of
the Employees' Stock Purchase Plan of Logicon, Inc., for the year ended
December 31, 1999.
/s/ Deloitte & Touche LLP
- -------------------------
Deloitte & Touche LLP
Los Angeles, California
April 5, 2000
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