HUNTINGTON INGALLS INDUSTRIES, INC.
For the period ended Dec 31, 2025. Filed Feb 5, 2026.
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FY2025 · Filed Feb 5, 2026
HII$313.57+3.0%Stored close · as of Nov 10, 2026
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Item 8. CONSOLIDATED STATEMENTS OF CASH FLOWS
CONSOLIDATED STATEMENTS OF CASH FLOWS
| ($ in millions) | 2025 | 2024 | 2023 |
|---|---|---|---|
| Operating Activities | |||
| Net earnings | $605 | $550 | $681 |
| Adjustments to reconcile to net cash provided by operating activities | |||
| Depreciation | 225 | 217 | 219 |
| Amortization of purchased intangibles | 104 | 109 | 128 |
| Stock-based compensation | 54 | 23 | 34 |
| Deferred income taxes | 203 | (122) | (113) |
| Gain on investments in marketable securities | (34) | (22) | (23) |
| Other non-cash transactions, net | 23 | 10 | 29 |
| Change in | |||
| Accounts receivable | (127) | 256 | 168 |
| Contract assets | (75) | (146) | (297) |
| Inventoried costs | (11) | (22) | (3) |
| Prepaid expenses and other assets | (66) | (33) | (42) |
| Accounts payable and accruals | 449 | (315) | 264 |
| Retiree benefits | (154) | (112) | (75) |
| Net cash provided by operating activities | 1,196 | 393 | 970 |
| Investing Activities | |||
| Capital expenditures | |||
| Capital expenditure additions | (402) | (367) | (292) |
| Grant proceeds for capital expenditures | 6 | 14 | 14 |
| Acquisitions of businesses | (132) | — | — |
| Investment in affiliates | — | — | (24) |
| Proceeds from equity method investment | — | — | 63 |
| Proceeds from sale of investments | 5 | — | — |
| Other investing activities, net | 2 | 5 | 3 |
| Net cash used in investing activities | (521) | (348) | (236) |
| Financing Activities | |||
| Proceeds from issuance of long-term debt | — | 1,000 | — |
| Repayment of long-term debt | (500) | (229) | (480) |
| Proceeds from line of credit borrowings | — | 42 | — |
| Repayment of line of credit borrowings | — | (42) | — |
| Debt issuance costs | — | (17) | — |
| Dividends paid | (213) | (206) | (200) |
| Repurchases of common stock | — | (162) | (75) |
| Employee taxes on certain share-based payment arrangements | (14) | (25) | (13) |
| Other financing activities, net | (5) | (5) | (3) |
| Net cash provided by (used in) financing activities | (732) | 356 | (771) |
| Change in cash and cash equivalents | (57) | 401 | (37) |
| Cash and cash equivalents, beginning of period | 831 | 430 | 467 |
| Cash and cash equivalents, end of period | $774 | $831 | $430 |
| Supplemental Cash Flow Disclosure | |||
| Cash paid for interest | $108 | $101 | $101 |
| Non-Cash Investing and Financing Activities | |||
| Capital expenditures accrued in accounts payable | $23 | $23 | $29 |
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