HUNTINGTON INGALLS INDUSTRIES INC

For the period ended Dec 31, 2023. Filed Feb 1, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 1, 2024

HII$313.57+3.0%Stored close · as of Nov 10, 2026

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Contents

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

($ in millions)	2023	2022
Assets
Current Assets
Cash and cash equivalents	$430	$467
Accounts receivable, net	461	636
Contract assets	1,537	1,240
Inventoried costs, net	186	183
Income taxes receivable	183	170
Prepaid expenses and other current assets	83	50
Total current assets	2,880	2,746
Property, Plant, and Equipment
Land and land improvements	351	344
Buildings and leasehold improvements	2,954	2,805
Machinery and other equipment	2,197	2,122
Capitalized software costs	261	246
	5,763	5,517
Accumulated depreciation and amortization	(2,467)	(2,319)
Property, plant, and equipment, net	3,296	3,198
Other Assets
Operating lease assets	262	282
Goodwill	2,618	2,618
Other intangible assets, net of accumulated amortization of $1,009 million as of 2023 and $881 million as of 2022	891	1,019
Pension plan assets	888	600
Miscellaneous other assets	380	394
Total other assets	5,039	4,913
Total assets	$11,215	$10,857

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - CONTINUED

($ in millions)	2023	2022
Liabilities and Stockholders' Equity
Current Liabilities
Trade accounts payable	$554	$642
Accrued employees’ compensation	382	345
Current portion of long-term debt	231	399
Current portion of postretirement plan liabilities	129	134
Current portion of workers’ compensation liabilities	224	229
Contract liabilities	1,063	766
Other current liabilities	449	380
Total current liabilities	3,032	2,895
Long-term debt	2,214	2,506
Pension plan liabilities	212	214
Other postretirement plan liabilities	241	260
Workers’ compensation liabilities	449	463
Long-term operating lease liabilities	228	246
Deferred tax liabilities	367	418
Other long-term liabilities	379	366
Total liabilities	7,122	7,368
Commitments and Contingencies (Note 16)
Stockholders’ Equity
Common stock, $0.01 par value; 150,000,000 shares authorized; 53,595,748 issued and 39,618,880 outstanding as of December 31, 2023, and 53,503,317 issued and 39,863,456 outstanding as of December 31, 2022	1	1
Additional paid-in capital	2,045	2,022
Retained earnings	4,755	4,276
Treasury stock	(2,286)	(2,211)
Accumulated other comprehensive loss	(422)	(599)
Total stockholders’ equity	4,093	3,489
Total liabilities and stockholders’ equity	$11,215	$10,857

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.