$HII
HUNTINGTON INGALLS INDUSTRIES, INC.

2013 Q4 Form 10-Q Financial Statement

#000150158513000038 Filed on November 07, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2012 Q3
Revenue $1.938B $1.637B $1.596B
YoY Change 6.31% 2.57% 0.19%
Cost Of Revenue $1.567B $210.0M $186.0M
YoY Change 5.24% 12.9% 7.51%
Gross Profit $371.0M $1.427B $1.410B
YoY Change 11.08% 1.21% -0.7%
Gross Profit Margin 19.14% 87.17% 88.35%
Selling, General & Admin $198.0M $186.0M $164.0M
YoY Change -15.02% 13.41% 7.19%
% of Gross Profit 53.37% 13.03% 11.63%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $75.00M $58.00M $45.00M
YoY Change 59.57% 28.89% -4.26%
% of Gross Profit 20.22% 4.06% 3.19%
Operating Expenses $198.0M $186.0M $164.0M
YoY Change -15.02% 13.41% 7.19%
Operating Profit $174.0M $127.0M $66.00M
YoY Change 64.15% 92.42% -134.2%
Interest Expense -$30.00M $28.00M $29.00M
YoY Change 25.0% -3.45% -3.33%
% of Operating Profit -17.24% 22.05% 43.94%
Other Income/Expense, Net
YoY Change
Pretax Income $143.0M $99.00M $37.00M
YoY Change 85.71% 167.57% -116.59%
Income Tax $52.00M $30.00M $24.00M
% Of Pretax Income 36.36% 30.3% 64.86%
Net Earnings $91.00M $69.00M $13.00M
YoY Change 82.0% 430.77% -105.2%
Net Earnings / Revenue 4.7% 4.22% 0.81%
Basic Earnings Per Share $1.86 $1.38 $0.26
Diluted Earnings Per Share $1.82 $1.36 $0.26
COMMON SHARES
Basic Shares Outstanding 49.37M shares 49.90M shares 49.60M shares
Diluted Shares Outstanding 50.60M shares 50.30M shares

Balance Sheet

Concept 2013 Q4 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.043B $895.0M $766.0M
YoY Change -1.32% 16.84% 42.91%
Cash & Equivalents $1.043B $895.0M $766.0M
Short-Term Investments
Other Short-Term Assets $199.0M $241.0M $245.0M
YoY Change -14.96% -1.63% -18.87%
Inventory $311.0M $340.0M $332.0M
Prepaid Expenses
Receivables $1.123B $1.055B $883.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.676B $2.531B $2.226B
YoY Change 7.73% 13.7% 6.92%
LONG-TERM ASSETS
Property, Plant & Equipment $1.897B $1.964B $1.988B
YoY Change -6.74% -1.21% 0.45%
Goodwill $881.0M $881.0M $844.0M
YoY Change 0.0% 4.38%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.652B $371.0M $1.649B
YoY Change -11.85% -77.5% 564.92%
Total Long-Term Assets $3.514B $3.748B $3.637B
YoY Change -10.08% 3.05% 0.11%
TOTAL ASSETS
Total Short-Term Assets $2.676B $2.531B $2.226B
Total Long-Term Assets $3.514B $3.748B $3.637B
Total Assets $6.190B $6.279B $5.863B
YoY Change -3.16% 7.1% 2.59%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $337.0M $287.0M $292.0M
YoY Change -10.61% -1.71% 1.74%
Accrued Expenses $460.0M $430.0M $410.0M
YoY Change 2.0% 4.88% 5.67%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $79.00M $65.00M $43.00M
YoY Change 54.9% 51.16% 48.28%
Total Short-Term Liabilities $1.392B $1.402B $1.239B
YoY Change 0.58% 13.16% 2.65%
LONG-TERM LIABILITIES
Long-Term Debt $1.700B $1.743B $1.794B
YoY Change -4.44% -2.84% -2.34%
Other Long-Term Liabilities $104.0M $52.00M $53.00M
YoY Change 76.27% -1.89% -96.22%
Total Long-Term Liabilities $1.804B $1.795B $1.847B
YoY Change -1.85% -2.82% -42.99%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.392B $1.402B $1.239B
Total Long-Term Liabilities $1.804B $1.795B $1.847B
Total Liabilities $4.704B $5.344B $4.825B
YoY Change -17.83% 10.76% 5.81%
SHAREHOLDERS EQUITY
Retained Earnings $236.0M $155.0M -$45.00M
YoY Change -444.44%
Common Stock $1.925B $1.914B $1.887B
YoY Change 1.64% 1.43%
Preferred Stock
YoY Change
Treasury Stock (at cost) $120.0M $57.00M
YoY Change 11900.0%
Treasury Stock Shares
Shareholders Equity $1.521B $935.0M $1.038B
YoY Change
Total Liabilities & Shareholders Equity $6.225B $6.279B $5.863B
YoY Change -2.61% 7.1% 2.59%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income $91.00M $69.00M $13.00M
YoY Change 82.0% 430.77% -105.2%
Depreciation, Depletion And Amortization $75.00M $58.00M $45.00M
YoY Change 59.57% 28.89% -4.26%
Cash From Operating Activities $292.0M $281.0M $137.0M
YoY Change -21.72% 105.11% -40.95%
INVESTING ACTIVITIES
Capital Expenditures -$54.00M -$30.00M -$35.00M
YoY Change -22.86% -14.29% -2.78%
Acquisitions
YoY Change
Other Investing Activities $0.00 $58.00M
YoY Change
Cash From Investing Activities -$54.00M $28.00M -$35.00M
YoY Change -22.86% -180.0% -2.78%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -90.00M -37.00M -5.000M
YoY Change 650.0% 640.0% -87.8%
NET CHANGE
Cash From Operating Activities 292.0M 281.0M 137.0M
Cash From Investing Activities -54.00M 28.00M -35.00M
Cash From Financing Activities -90.00M -37.00M -5.000M
Net Change In Cash 148.0M 272.0M 97.00M
YoY Change -49.14% 180.41% -37.42%
FREE CASH FLOW
Cash From Operating Activities $292.0M $281.0M $137.0M
Capital Expenditures -$54.00M -$30.00M -$35.00M
Free Cash Flow $346.0M $311.0M $172.0M
YoY Change -21.9% 80.81% -35.82%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2013Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
287000000 USD
CY2012Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
377000000 USD
CY2012Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
905000000 USD
CY2013Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
1055000000 USD
CY2013Q3 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
205000000 USD
CY2012Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
235000000 USD
CY2013Q3 us-gaap Accrued Environmental Loss Contingencies Current
AccruedEnvironmentalLossContingenciesCurrent
2000000 USD
CY2013Q3 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
73000000 USD
CY2013Q3 us-gaap Accumulated Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
2000000 USD
CY2013Q2 us-gaap Accumulated Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
1000000 USD
CY2013Q3 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
-1080000000 USD
CY2012Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
-1226000000 USD
CY2013Q2 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
-1097000000 USD
CY2012Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-1226000000 USD
CY2013Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-1078000000 USD
CY2013Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-1096000000 USD
us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P40Y
CY2013Q3 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
1914000000 USD
CY2012Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
1894000000 USD
us-gaap Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
20000000 USD
us-gaap Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
25000000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
25000000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
28000000 USD
CY2013Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9000000 USD
CY2012Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9000000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
6000000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
6000000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
16000000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
15000000 USD
us-gaap Cost Of Services
CostOfServices
650000000 USD
CY2012Q3 us-gaap Cost Of Services
CostOfServices
186000000 USD
CY2013Q3 us-gaap Cost Of Services
CostOfServices
210000000 USD
CY2013Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5000000 USD
CY2012Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5000000 USD
CY2013Q3 us-gaap Assets
Assets
6279000000 USD
CY2012Q4 us-gaap Assets
Assets
6392000000 USD
CY2012Q4 us-gaap Assets Current
AssetsCurrent
2484000000 USD
CY2013Q3 us-gaap Assets Current
AssetsCurrent
2531000000 USD
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.30
CY2013Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.10
CY2013Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.10
CY2013Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.10
CY2013Q3 us-gaap Billings In Excess Of Cost Current
BillingsInExcessOfCostCurrent
139000000 USD
CY2012Q4 us-gaap Billings In Excess Of Cost Current
BillingsInExcessOfCostCurrent
134000000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
2000000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
2000000 USD
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1057000000 USD
CY2013Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
895000000 USD
CY2012Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
766000000 USD
CY2011Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
915000000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-162000000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-149000000 USD
CY2013Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2012Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2012Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
CY2012Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2013Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2012Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000 shares
CY2013Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000 shares
CY2013Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
50400000.0 shares
CY2012Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
49600000.0 shares
CY2012Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
49600000.0 shares
CY2013Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
49500000.0 shares
CY2013Q3 us-gaap Common Stock Value Outstanding
CommonStockValueOutstanding
1000000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
141000000 USD
CY2012Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
30000000 USD
CY2013Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
87000000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
318000000 USD
CY2013Q3 us-gaap Cost Of Goods Sold
CostOfGoodsSold
1123000000 USD
us-gaap Cost Of Goods Sold
CostOfGoodsSold
3366000000 USD
us-gaap Cost Of Goods Sold
CostOfGoodsSold
3578000000 USD
CY2012Q3 us-gaap Cost Of Goods Sold
CostOfGoodsSold
1187000000 USD
us-gaap Cost Of Services
CostOfServices
562000000 USD
us-gaap Depreciation
Depreciation
135000000 USD
CY2012Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
542000000 USD
CY2013Q3 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
466000000 USD
CY2013Q3 us-gaap Deferred Tax Assets Liabilities Net Current
DeferredTaxAssetsLiabilitiesNetCurrent
218000000 USD
CY2012Q4 us-gaap Deferred Tax Assets Liabilities Net Current
DeferredTaxAssetsLiabilitiesNetCurrent
213000000 USD
CY2013Q3 us-gaap Deferred Tax Assets Liabilities Net Noncurrent
DeferredTaxAssetsLiabilitiesNetNoncurrent
248000000 USD
CY2012Q4 us-gaap Deferred Tax Assets Liabilities Net Noncurrent
DeferredTaxAssetsLiabilitiesNetNoncurrent
329000000 USD
CY2012Q4 us-gaap Defined Benefit Pension Plan Liabilities Noncurrent
DefinedBenefitPensionPlanLiabilitiesNoncurrent
1301000000 USD
CY2013Q3 us-gaap Defined Benefit Pension Plan Liabilities Noncurrent
DefinedBenefitPensionPlanLiabilitiesNoncurrent
1082000000 USD
us-gaap Defined Benefit Plan Amounts Recognized In Other Comprehensive Income Loss Net Gain Loss Before Tax
DefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncomeLossNetGainLossBeforeTax
246000000 USD
us-gaap Defined Benefit Plan Amounts Recognized In Other Comprehensive Income Loss Net Gain Loss Before Tax
DefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncomeLossNetGainLossBeforeTax
68000000 USD
CY2012Q3 us-gaap Defined Benefit Plan Amounts Recognized In Other Comprehensive Income Loss Net Gain Loss Before Tax
DefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncomeLossNetGainLossBeforeTax
23000000 USD
CY2013Q3 us-gaap Defined Benefit Plan Amounts Recognized In Other Comprehensive Income Loss Net Gain Loss Before Tax
DefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncomeLossNetGainLossBeforeTax
31000000 USD
CY2013Q2 us-gaap Defined Benefit Plan Plan Amendments
DefinedBenefitPlanPlanAmendments
-177000000 USD
CY2013Q1 us-gaap Defined Benefit Plan Plan Amendments
DefinedBenefitPlanPlanAmendments
30000000 USD
us-gaap Depreciation
Depreciation
122000000 USD
us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">ACCOUNTING STANDARDS UPDATES</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In February 2013, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update 2013-02 "Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income" ("ASU 2013-02"). This update requires entities to provide information about the amounts reclassified out of accumulated other comprehensive income (loss) by component, and their corresponding effects on net income if required under GAAP to be reclassified to net income in their entirety in the same reporting period; otherwise, cross-reference to other disclosures is required. ASU 2013-02 is effective for all reporting periods beginning after December 15, 2012. The Company adopted ASU 2013-02 as of January 1, 2013 without material impact on the unaudited condensed consolidated financial statements. See Note 16: Employee Pension and Other Postretirement Benefits.</font></div></div>
us-gaap Dividends
Dividends
15000000 USD
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
15000000 USD
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.95
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.41
CY2013Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.38
CY2012Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.26
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.37
CY2013Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.36
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.92
CY2012Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.26
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.415
CY2013Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.303
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.323
CY2012Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.649
CY2013Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
4000000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
11000000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
10000000 USD
CY2012Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
3000000 USD
us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
37000000 USD
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
919866 shares
CY2012Q3 us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
20000000 USD
CY2013Q3 us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
27000000 USD
us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
39000000 USD
us-gaap Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
1024000000 USD
CY2012Q3 us-gaap Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
359000000 USD
us-gaap Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
796000000 USD
CY2013Q3 us-gaap Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
292000000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
5000000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
5000000 USD
CY2013Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
407000000 USD
CY2012Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
391000000 USD
CY2013Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
20000000 USD
CY2013Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
20000000 USD
CY2013Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
20000000 USD
CY2013Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
20000000 USD
CY2013Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
20000000 USD
CY2012Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
939000000 USD
CY2013Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
939000000 USD
CY2012Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
548000000 USD
CY2013Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
532000000 USD
us-gaap Fiscal Period
FiscalPeriod
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The quarterly information is labeled using a calendar convention; that is, first quarter is consistently labeled as ending on March 31, second quarter as ending on June 30, and third quarter as ending on September 30. It is management's long-standing practice to establish interim closing dates using a "fiscal" calendar, which requires the businesses to close their books on a Friday near these quarter-end dates in order to normalize the potentially disruptive effects of quarterly closings on business processes. The effects of this practice only exist for interim periods within a reporting year.</font></div></div>
CY2012Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
164000000 USD
CY2013Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
186000000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
541000000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
506000000 USD
CY2012Q4 us-gaap Goodwill
Goodwill
881000000 USD
CY2013Q3 us-gaap Goodwill
Goodwill
881000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
251000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
164000000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
13000000 USD
CY2012Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
7000000 USD
CY2013Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
9000000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
13000000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
68000000 USD
CY2012Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
24000000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
81000000 USD
CY2013Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
30000000 USD
CY2013Q3 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
2755000000 USD
CY2012Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
2755000000 USD
CY2012Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
37000000 USD
CY2013Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
99000000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
54000000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
28000000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-134000000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
12000000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
172000000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
150000000 USD
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-44000000 USD
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
19000000 USD
us-gaap Increase Decrease In Inventory For Long Term Contracts Or Programs
IncreaseDecreaseInInventoryForLongTermContractsOrPrograms
-57000000 USD
us-gaap Increase Decrease In Inventory For Long Term Contracts Or Programs
IncreaseDecreaseInInventoryForLongTermContractsOrPrograms
102000000 USD
us-gaap Increase Decrease In Pension And Postretirement Obligations
IncreaseDecreaseInPensionAndPostretirementObligations
-134000000 USD
us-gaap Increase Decrease In Pension And Postretirement Obligations
IncreaseDecreaseInPensionAndPostretirementObligations
-93000000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
16000000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
8000000 USD
us-gaap Insurance Recoveries
InsuranceRecoveries
677500000 USD
CY2012Q3 us-gaap Interest Expense
InterestExpense
29000000 USD
us-gaap Interest Expense
InterestExpense
88000000 USD
us-gaap Interest Expense
InterestExpense
87000000 USD
CY2013Q3 us-gaap Interest Expense
InterestExpense
28000000 USD
us-gaap Interest Paid
InterestPaid
102000000 USD
us-gaap Interest Paid
InterestPaid
101000000 USD
CY2012Q4 us-gaap Inventory For Long Term Contracts Or Programs General And Administrative Costs Included In Inventory
InventoryForLongTermContractsOrProgramsGeneralAndAdministrativeCostsIncludedInInventory
3000000 USD
CY2013Q3 us-gaap Inventory For Long Term Contracts Or Programs General And Administrative Costs Included In Inventory
InventoryForLongTermContractsOrProgramsGeneralAndAdministrativeCostsIncludedInInventory
2000000 USD
CY2013Q3 us-gaap Inventory Net Of Allowances Customer Advances And Progress Billings
InventoryNetOfAllowancesCustomerAdvancesAndProgressBillings
340000000 USD
CY2012Q4 us-gaap Inventory Net Of Allowances Customer Advances And Progress Billings
InventoryNetOfAllowancesCustomerAdvancesAndProgressBillings
288000000 USD
CY2013Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
93000000 USD
CY2012Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
88000000 USD
CY2013Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
246000000 USD
CY2012Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
198000000 USD
CY2012Q4 us-gaap Liabilities
Liabilities
5725000000 USD
CY2013Q3 us-gaap Liabilities
Liabilities
5344000000 USD
CY2013Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
6279000000 USD
CY2012Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
6392000000 USD
CY2013Q3 us-gaap Liabilities Current
LiabilitiesCurrent
1402000000 USD
CY2012Q4 us-gaap Liabilities Current
LiabilitiesCurrent
1384000000 USD
CY2012Q4 us-gaap Long Term Debt
LongTermDebt
1830000000 USD
CY2013Q3 us-gaap Long Term Debt
LongTermDebt
1808000000 USD
CY2012Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
51000000 USD
CY2013Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
65000000 USD
CY2013Q3 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
1943000000 USD
CY2012Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
1974000000 USD
CY2013Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1743000000 USD
CY2012Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1779000000 USD
us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">DESCRIPTION OF BUSINESS</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">For more than a century, Huntington Ingalls Industries, Inc. ("HII" or the "Company") has been designing, building, overhauling and repairing ships primarily for the U.S. Navy and the U.S. Coast Guard. HII is organized into </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">two</font><font style="font-family:Arial;font-size:10pt;"> operating segments, Ingalls and Newport News, which also represent its reportable segments. Through its Ingalls segment, HII is a builder of amphibious assault and expeditionary ships for the U.S. Navy, the sole builder of National Security Cutters for the U.S. Coast Guard, and one of only two companies that builds the Navy's current fleet of DDG-51 </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Arleigh Burke</font><font style="font-family:Arial;font-size:10pt;">-class destroyers. Through its Newport News segment, HII is the nation's sole designer, builder and refueler of nuclear-powered aircraft carriers, and one of only two companies currently designing and building nuclear-powered submarines for the U.S. Navy. HII is one of the nation's leading full-service providers for the design, engineering, construction and life cycle support of major surface ship programs for the U.S. Navy. As prime contractor, principal subcontractor, team member or partner, HII participates in many high-priority U.S. defense technology programs. The Company conducts substantially all of its business with the U.S. Government, principally the Department of Defense ("DoD").</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">On March 29, 2011, HII entered into a Separation and Distribution Agreement with its former parent company, Northrop Grumman Corporation ("Northrop Grumman"), and Northrop Grumman's subsidiaries (Northrop Grumman Shipbuilding, Inc. and Northrop Grumman Systems Corporation), pursuant to which HII was legally and structurally separated from Northrop Grumman.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In connection with the spin-off, HII entered into a Transition Services Agreement with Northrop Grumman, under which Northrop Grumman or certain of its subsidiaries provided HII with certain enterprise shared services (including information technology, resource planning, financial, procurement and human resource services), benefits support services and other specified services to HII at cost. The term of the Transition Services Agreement ended on October 9, 2012. For the </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">three and nine months ended</font><font style="font-family:Arial;font-size:10pt;"> </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">September&#160;30, 2012</font><font style="font-family:Arial;font-size:10pt;">, costs incurred for services under the Transition Services Agreement were approximately </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">$3 million</font><font style="font-family:Arial;font-size:10pt;"> and </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">$19 million</font><font style="font-family:Arial;font-size:10pt;">, respectively.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In connection with the spin-off, HII entered into new borrowing arrangements to provide the Company with adequate liquidity and to fund a </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">$1,429 million</font><font style="font-family:Arial;font-size:10pt;"> contribution to Northrop Grumman. Specifically, HII issued </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">$1,200 million</font><font style="font-family:Arial;font-size:10pt;"> in senior notes and entered into the HII Credit Facility ("Credit Facility") with third-party lenders that includes a </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">$650 million</font><font style="font-family:Arial;font-size:10pt;"> revolver and a </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">$575 million</font><font style="font-family:Arial;font-size:10pt;"> term loan. See Note 11: Debt.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The spin-off from Northrop Grumman was a transaction under common control; therefore, no change in the historical basis of HII's assets or liabilities was recorded as part of the spin-off.</font></div></div>
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-16000000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-79000000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-92000000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-27000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-56000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-41000000 USD
CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
69000000 USD
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
13000000 USD
us-gaap Net Income Loss
NetIncomeLoss
170000000 USD
us-gaap Net Income Loss
NetIncomeLoss
96000000 USD
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segments
CY2013Q3 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segments
us-gaap Operating Income Loss
OperatingIncomeLoss
338000000 USD
CY2013Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
127000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
252000000 USD
CY2012Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
66000000 USD
CY2012Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
205000000 USD
us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
101000000 USD
CY2013Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
2000000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
3000000 USD
CY2013Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
52000000 USD
CY2013Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
260000000 USD
CY2013Q3 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
123000000 USD
CY2012Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
116000000 USD
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
89000000 USD
CY2013Q3 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
1000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
148000000 USD
CY2012Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
17000000 USD
CY2013Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
18000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
45000000 USD
CY2013Q3 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
15000000 USD
CY2012Q3 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
6000000 USD
us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
23000000 USD
CY2012Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
59000000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-3000000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1000000 USD
us-gaap Other Postretirement Benefits Payments
OtherPostretirementBenefitsPayments
26000000 USD
us-gaap Other Postretirement Benefits Payments
OtherPostretirementBenefitsPayments
25000000 USD
CY2012Q4 us-gaap Other Postretirement Defined Benefit Plan Liabilities Noncurrent
OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent
799000000 USD
CY2013Q3 us-gaap Other Postretirement Defined Benefit Plan Liabilities Noncurrent
OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent
656000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
53000000 USD
CY2011Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
1429000000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
15000000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
85000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
92000000 USD
CY2013Q3 us-gaap Pension And Other Postretirement And Postemployment Benefit Plans Liabilities Current
PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesCurrent
148000000 USD
CY2012Q4 us-gaap Pension And Other Postretirement And Postemployment Benefit Plans Liabilities Current
PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesCurrent
166000000 USD
us-gaap Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
330000000 USD
us-gaap Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
258000000 USD
CY2012Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
21000000 USD
CY2013Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
23000000 USD
us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
58000000 USD
us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
6000000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
6000000 USD
CY2012Q4 us-gaap Progress Payments Netted Against Inventory For Long Term Contracts Or Programs
ProgressPaymentsNettedAgainstInventoryForLongTermContractsOrPrograms
1000000 USD
CY2013Q3 us-gaap Progress Payments Netted Against Inventory For Long Term Contracts Or Programs
ProgressPaymentsNettedAgainstInventoryForLongTermContractsOrPrograms
1000000 USD
CY2012Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2034000000 USD
CY2013Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1964000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
22000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
22000000 USD
CY2013Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
155000000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
4224000000 USD
CY2013Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
1394000000 USD
CY2012Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
1367000000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
4138000000 USD
CY2012Q3 us-gaap Sales Revenue Net
SalesRevenueNet
1596000000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
4885000000 USD
CY2013Q3 us-gaap Sales Revenue Net
SalesRevenueNet
1637000000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
4882000000 USD
CY2012Q3 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
229000000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
661000000 USD
CY2013Q3 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
243000000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
744000000 USD
CY2013Q3 hii Condensed Other Assets Miscellaneous Noncurrent
CondensedOtherAssetsMiscellaneousNoncurrent
371000000 USD
CY2013Q3 hii Defined Benefit Plan Expected Benefit Payments In Current Fiscal Year
DefinedBenefitPlanExpectedBenefitPaymentsInCurrentFiscalYear
301000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
25000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
28000000 USD
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
41.33
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms
P1Y1M
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
2133000 shares
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
28000000 USD
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
849000 shares
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
36.27
CY2013Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P2Y4M
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
1000000 USD
CY2013Q4 us-gaap Stock Repurchase Program Authorized Amount
StockRepurchaseProgramAuthorizedAmount
300000000 USD
CY2012 us-gaap Stock Repurchase Program Period In Force1
StockRepurchaseProgramPeriodInForce1
P3Y
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
667000000 USD
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
872000000 USD
CY2013Q3 us-gaap Stockholders Equity
StockholdersEquity
935000000 USD
CY2012Q3 us-gaap Stockholders Equity
StockholdersEquity
1038000000 USD
CY2013Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
935000000 USD
CY2012Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
667000000 USD
CY2013Q3 us-gaap Treasury Stock Value
TreasuryStockValue
57000000 USD
CY2012Q4 us-gaap Treasury Stock Value
TreasuryStockValue
1000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
-56000000 USD
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-style:italic;">Accounting Estimates </font><font style="font-family:Arial;font-size:10pt;">- The preparation of the Company's unaudited condensed consolidated financial statements requires management to make estimates and judgments that affect the reported amounts of assets and liabilities and the disclosure of contingencies at the date of the financial statements as well as the reported amounts of revenues and expenses during the reporting period. Estimates have been prepared on the basis of the most current and best available information and actual results could differ materially from those estimates.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The Budget Control Act of 2011 will result in significant decreases in DoD spending starting in 2013, which could negatively impact the Company's revenues and its estimated recovery of goodwill and other long-lived assets.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The Company recognizes changes in estimates of contract sales, costs and profits using the cumulative catch-up method of accounting. This method recognizes in the current period the cumulative effect of the changes on current and prior periods. Hence, the effect of the changes on future periods of contract performance is recognized as if the revised estimate had been the original estimate.</font></div></div>
CY2013Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50600000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
49900000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50500000 shares
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50300000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49300000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49900000 shares
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49600000 shares
CY2013Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49900000 shares
CY2013Q3 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
225000000 USD
CY2012Q4 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
216000000 USD
CY2013Q3 us-gaap Workers Compensation Liability Noncurrent
WorkersCompensationLiabilityNoncurrent
409000000 USD
CY2012Q4 us-gaap Workers Compensation Liability Noncurrent
WorkersCompensationLiabilityNoncurrent
403000000 USD
CY2013Q3 hii Accumulated Other Comprehensive Income Loss Tax
AccumulatedOtherComprehensiveIncomeLossTax
-701000000 USD
CY2012Q4 hii Accumulated Other Comprehensive Income Loss Tax
AccumulatedOtherComprehensiveIncomeLossTax
-802000000 USD
CY2013Q3 hii Condensed Other Accrued Liabilities Current
CondensedOtherAccruedLiabilitiesCurrent
333000000 USD
CY2012Q4 hii Condensed Other Assets Miscellaneous Noncurrent
CondensedOtherAssetsMiscellaneousNoncurrent
445000000 USD
CY2012Q3 hii Equity Method Investment Summarized Financial Information Operating Income Loss
EquityMethodInvestmentSummarizedFinancialInformationOperatingIncomeLoss
20000000 USD
hii Equity Method Investment Summarized Financial Information Operating Income Loss
EquityMethodInvestmentSummarizedFinancialInformationOperatingIncomeLoss
37000000 USD
hii Equity Method Investment Summarized Financial Information Operating Income Loss
EquityMethodInvestmentSummarizedFinancialInformationOperatingIncomeLoss
39000000 USD
CY2013Q3 hii Equity Method Investment Summarized Financial Information Operating Income Loss
EquityMethodInvestmentSummarizedFinancialInformationOperatingIncomeLoss
27000000 USD
CY2013Q3 hii Inventory Work In Process And General And Administrative Costs Included In Inventory Net Of Reserves
InventoryWorkInProcessAndGeneralAndAdministrativeCostsIncludedInInventoryNetOfReserves
248000000 USD
CY2012Q4 hii Inventory Work In Process And General And Administrative Costs Included In Inventory Net Of Reserves
InventoryWorkInProcessAndGeneralAndAdministrativeCostsIncludedInInventoryNetOfReserves
201000000 USD
CY2013Q3 hii Inventory Work In Process And General And Administrative Costs Included In Inventory Net Of Reserves And Progress Payments
InventoryWorkInProcessAndGeneralAndAdministrativeCostsIncludedInInventoryNetOfReservesAndProgressPayments
247000000 USD
CY2012Q4 hii Inventory Work In Process And General And Administrative Costs Included In Inventory Net Of Reserves And Progress Payments
InventoryWorkInProcessAndGeneralAndAdministrativeCostsIncludedInInventoryNetOfReservesAndProgressPayments
200000000 USD
CY2012 hii Stock Repurchase Program Previously Authorized Amount
StockRepurchaseProgramPreviouslyAuthorizedAmount
150000000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Period End Date
DocumentPeriodEndDate
2013-09-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001501585
CY2013Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
49373379 shares
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
HUNTINGTON INGALLS INDUSTRIES, INC.

Files In Submission

Name View Source Status
0001501585-13-000038-index-headers.html Edgar Link pending
0001501585-13-000038-index.html Edgar Link pending
0001501585-13-000038.txt Edgar Link pending
0001501585-13-000038-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
hii-20130930.xml Edgar Link completed
hii-20130930.xsd Edgar Link pending
hii-20130930_cal.xml Edgar Link unprocessable
hii-20130930_def.xml Edgar Link unprocessable
hii-20130930_lab.xml Edgar Link unprocessable
hii-20130930_pre.xml Edgar Link unprocessable
hii-ex121q32013.htm Edgar Link pending
hii-ex311q32013.htm Edgar Link pending
hii-ex312q32013.htm Edgar Link pending
hii-ex321q32013.htm Edgar Link pending
hii-ex322q32013.htm Edgar Link pending
hii2013q310-q930.htm Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R59.htm Edgar Link pending
R6.htm Edgar Link pending
R60.htm Edgar Link pending
R61.htm Edgar Link pending
R62.htm Edgar Link pending
R63.htm Edgar Link pending
R64.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending