HUNTINGTON INGALLS INDUSTRIES INC
For the period ended Sep 30, 2024. Filed Oct 31, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Oct 31, 2024
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Segment Information
- SEGMENT INFORMATION
The following table presents segment results for the three and nine months ended September 30, 2024 and 2023:
| Three Months Ended September 30 | Nine Months Ended September 30 | |||
|---|---|---|---|---|
| ($ in millions) | 2024 | 2023 | 2024 | 2023 |
| Sales and Service Revenues | ||||
| Ingalls | $664 | $711 | $2,031 | $1,952 |
| Newport News | 1,412 | 1,453 | 4,381 | 4,468 |
| Mission Technologies | 709 | 685 | 2,224 | 1,954 |
| Intersegment eliminations | (36) | (33) | (105) | (97) |
| Sales and service revenues | $2,749 | $2,816 | $8,531 | $8,277 |
| Operating Income | ||||
| Ingalls | $49 | $73 | $165 | $193 |
| Newport News | 15 | 90 | 208 | 269 |
| Mission Technologies | 33 | 24 | 97 | 50 |
| Segment operating income | 97 | 187 | 470 | 512 |
| Non-segment factors affecting operating income | ||||
| Operating FAS/CAS Adjustment | (16) | (19) | (48) | (55) |
| Non-current state income taxes | 1 | 4 | 3 | 12 |
| Operating income | $82 | $172 | $425 | $469 |
Operating FAS/CAS Adjustment - The Operating FAS/CAS Adjustment represents the difference between the service cost component of our pension and other postretirement benefit plan expense determined in accordance with U.S. GAAP Financial Accounting Standards ("FAS") and our pension and other postretirement expense under U.S. Government Cost Accounting Standards ("CAS").
The following table presents the Company's assets by segment:
| ($ in millions) | September 30, 2024 | December 31, 2023 |
|---|---|---|
| Assets | ||
| Ingalls | $1,652 | $1,619 |
| Newport News | 4,779 | 4,612 |
| Mission Technologies | 3,122 | 3,161 |
| Corporate | 1,529 | 1,823 |
| Total assets | $11,082 | $11,215 |
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