HUNTINGTON INGALLS INDUSTRIES, INC.

Listed Company

HIICIK 0001501585NYSELarge AcceleratedShip & Boat Building & RepairingDelawareFY ends Dec 31

Period

FY 2025

Revenue

$12.48B

Net Income

$605.00M

Total Assets

$12.75B

Equity

$5.07B

Shares Out

39.24M

Op. Cash Flow

$1.20B

Business

HUNTINGTON INGALLS INDUSTRIES, INC. is a global all-domain defense partner that designs, builds, and sustains naval ships and defense technologies for U.S. government customers. It provides non‑nuclear and nuclear ship design, construction, overhaul, refueling, repair and sustainment, plus mission technologies including C5ISR, cyber and electronic warfare, uncrewed systems, training, fleet sustainment, and nuclear/environmental services. The company operates through Ingalls (non‑nuclear shipbuilding), Newport News (nuclear carriers and submarines) and Mission Technologies segments. It serves U.S. federal defense and national security customers under prime contracts and teaming arrangements.

Summary from filing dated 2025-02-06

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Sales and service revenues	12,484	11,535	11,454	10,676	9,524
Income (loss) from operating investments, net	46	49	37	48	41
Other income and gains, net	3	9	120	1	2
General and administrative expenses	977	973	1,022	924	898
Operating income (loss)	657	535	781	565	513
Interest expense	−105	−95	−95	−102	−89
Non-operating retirement benefit (expense)	190	179	148	276	181
Other, net	35	24	19	−20	17
Earnings (loss) before income taxes	777	643	853	719	622
Federal and foreign income taxes	172	93	172	140	78
Net earnings (loss)	605	550	681	579	544
Basic earnings (loss) per share	15.39	13.96	17.07	14.44	13.5
Weighted-average common shares outstanding (in shares)	39	39	40	40	40
Diluted earnings (loss) per share	15.39	13.96	17.07	14.44	13.5
Weighted-average diluted shares outstanding (in shares)	39	39	40	40	40
Change in unamortized benefit plan costs	−33	528	238	436	838
Tax benefit (expense) for items of other comprehensive income	8	−134	−61	−112	−214
Other comprehensive income (loss), net of tax	−25	394	177	324	624
Comprehensive income (loss)	580	944	858	903	1,168

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	774	831	430	467	627
Accounts receivable, net	339	212	461	636	433
Contract assets	1,758	1,683	1,537	1,240	1,310
Inventoried costs	219	208	186	183	161
Income taxes receivable	284	204	183	170	209
Prepaid expenses and other current assets	77	90	83	50	50
Total current assets	3,451	3,228	2,880	2,746	2,790
Land and land improvements	400	377	351	344	329
Buildings and leasehold improvements	3,483	3,182	2,954	2,805	2,643
Machinery and other equipment	2,402	2,267	2,197	2,122	2,058
Capitalized software costs	195	207	261	246	226
Property, plant and equipment, gross	6,480	6,033	5,763	5,517	5,256
Accumulated depreciation and amortization	−2,754	−2,583	−2,467	−2,319	−2,149
Property, plant, and equipment, net	3,726	3,450	3,296	3,198	3,107
Operating lease assets	267	239	262	282	241
Goodwill	2,650	2,618	2,618	2,618	2,628
Other intangible assets, net	694	782	891	1,019	1,159
Pension plan assets	1,544	1,422	888	600	281
Miscellaneous other assets	417	402	380	394	421
Total other assets	5,572	5,463	5,039	4,913	4,730
Total assets	12,749	12,141	11,215	10,857	10,627
Trade accounts payable	556	598	554	642	603
Accrued employees' compensation	443	392	382	345	361
Current portion of long-term debt	—	503	231	—	—
Current portion of postretirement plan liabilities	119	124	129	134	137
Current portion of workers' compensation liabilities	217	201	224	229	252
Contract liabilities	1,220	774	1,063	766	651
Other current liabilities	490	399	449	380	423
Total current liabilities	3,045	2,991	3,032	2,895	2,427
Long-term debt	2,700	2,700	2,214	—	—
Pension plan liabilities	155	142	212	214	351
Other postretirement plan liabilities	200	209	241	260	368
Workers' compensation liabilities	442	443	449	463	506
Long-term operating lease liabilities	223	205	228	246	194
Deferred tax liabilities	572	378	367	418	313
Other long-term liabilities	339	407	379	366	362
Total liabilities	7,676	7,475	7,122	7,368	7,819
Commitments and Contingencies (Note 16)	—	—	—	—	—
Common stock	1	1	1	1	1
Additional paid-in capital	2,087	2,045	2,045	2,022	1,998
Retained earnings (deficit)	5,487	5,097	4,755	4,276	3,891
Treasury stock	−2,449	−2,449	−2,286	−2,211	−2,159
Accumulated other comprehensive income (loss)	−53	−28	−422	−599	−923
Total stockholders' equity	5,073	4,666	4,093	3,489	2,808
Total liabilities and stockholders' equity	12,749	12,141	11,215	10,857	10,627

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation	225	217	219	218	207
Amortization of purchased intangibles	104	109	128	140	86
Stock-based compensation	54	23	34	36	33
Deferred income taxes	203	−122	−113	2	98
Gain on investments in marketable securities	−34	−22	−23	−25	—
Other non-cash transactions, net	23	10	29	15	10
Accounts receivable	−127	256	168	−196	58
Contract assets	−75	−146	−297	70	−126
Inventoried costs	−11	−22	−3	−22	−25
Prepaid expenses and other assets	−66	−33	−42	20	−88
Accounts payable and accruals	449	−315	264	6	45
Retiree benefits	−154	−112	−75	−127	−78
Net cash provided by (used in) operating activities	1,196	393	970	766	760
Capital expenditure additions	−402	−367	−292	−284	−331
Grant proceeds for capital expenditures	6	14	14	12	20
Acquisitions of businesses, net of cash received	−132	—	—	—	−1,643
Investment in affiliates	—	—	−24	−5	−22
Proceeds from equity method investment	—	—	63	6	—
Proceeds from sale of investments	5	—	—	—	—
Other investing activities, net	2	5	3	3	2
Net cash provided by (used in) investing activities	−521	−348	−236	−268	−1,954
Proceeds from issuance of long-term debt	—	1,000	—	—	1,650
Repayment of long-term debt	−500	−229	−480	−400	−25
Proceeds from line of credit borrowings	—	42	—	24	—
Repayment of line of credit borrowings	—	−42	—	−24	—
Debt issuance costs	—	−17	—	—	−22
Dividends paid	−213	−206	−200	−192	−186
Repurchases of common stock	—	−162	−75	−52	−101
Employee taxes on certain share-based payment arrangements	−14	−25	−13	−14	−7
Other financing activities, net	−5	−5	−3	—	—
Net cash provided by (used in) financing activities	−732	356	−771	−658	1,309
Change in cash and cash equivalents	−57	401	−37	−160	115
Cash paid for interest	108	101	101	100	76
Capital expenditures accrued in accounts payable	23	23	29	12	6

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