HUNTINGTON INGALLS INDUSTRIES, INC.
For the period ended Dec 31, 2025. Filed Feb 5, 2026.
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FY2025 · Filed Feb 5, 2026
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GOODWILL AND OTHER INTANGIBLE ASSETS
- GOODWILL AND OTHER INTANGIBLE ASSETS
Goodwill
In connection with the Company’s annual goodwill impairment test as of October 31, 2025, management tested goodwill for each of itsthree reporting units with goodwill balances. Based on the annual goodwill impairment analysis, the Company determined that the estimated fair values of all reporting units exceeded by more than 10% their corresponding carrying values as of October 31, 2025.
As of both December 31, 2025 and 2024, accumulated goodwill impairment losses were $2,755 million, comprised of $1,568 million and $1,187 million at Ingalls and Newport News, respectively.
For the years ended December 31, 2025 and 2024, the carrying amounts of goodwill were as follows:
| ($ in millions) | Ingalls | Newport News | Mission Technologies | Total |
|---|---|---|---|---|
| Balance as of December 31, 2023 | $175 | $721 | $1,722 | $2,618 |
| Adjustments | — | — | — | — |
| Balance as of December 31, 2024 | 175 | 721 | 1,722 | 2,618 |
| Acquisitions | — | 32 | — | 32 |
| Balance as of December 31, 2025 | $175 | $753 | $1,722 | $2,650 |
Other Intangible Assets
Net intangible assets consist primarily of amounts relating to acquired customer relationships and contract backlog within Mission Technologies, as well as nuclear-powered aircraft carrier and submarine program intangible assets within Newport News, with an aggregate weighted-average useful life of 28 years based on the long life cycle of the related programs. Amortization expense for the years ended December 31, 2025, 2024, and 2023, was $104 million, $109 million, and $128 million, respectively.
The Company expects amortization for currently recorded purchased intangible assets of $84 million in 2026, $62 million in 2027, $56 million in 2028, $50 million in 2029, and $41 million in 2030.
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