$HII
HUNTINGTON INGALLS INDUSTRIES, INC.

2019 Q4 Form 10-Q Financial Statement

#000150158519000026 Filed on November 07, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2018 Q4
Revenue $2.412B $2.219B $2.199B
YoY Change 9.69% 6.53% 10.17%
Cost Of Revenue $1.980B $1.802B $1.729B
YoY Change 14.52% 13.12% 24.12%
Gross Profit $432.0M $417.0M $470.0M
YoY Change -8.09% -14.9% -22.06%
Gross Profit Margin 17.91% 18.79% 21.37%
Selling, General & Admin $224.0M $209.0M $262.0M
YoY Change -14.5% 0.48% -27.62%
% of Gross Profit 51.85% 50.12% 55.74%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $66.00M $55.00M $46.00M
YoY Change 43.48% 1.85% -11.54%
% of Gross Profit 15.28% 13.19% 9.79%
Operating Expenses $224.0M $209.0M $262.0M
YoY Change -14.5% 0.48% -27.62%
Operating Profit $186.0M $214.0M $213.0M
YoY Change -12.68% -26.21% -7.79%
Interest Expense -$11.00M $18.00M -$9.000M
YoY Change 22.22% 28.57% -76.92%
% of Operating Profit -5.91% 8.41% -4.23%
Other Income/Expense, Net $4.000M -$1.000M $20.00M
YoY Change -80.0% -105.26% -233.33%
Pretax Income $172.0M $198.0M $219.0M
YoY Change -21.46% -32.88% 17.11%
Income Tax $23.00M $44.00M $7.000M
% Of Pretax Income 13.37% 22.22% 3.2%
Net Earnings $149.0M $154.0M $212.0M
YoY Change -29.72% -32.75% 231.25%
Net Earnings / Revenue 6.18% 6.94% 9.64%
Basic Earnings Per Share $3.62 $3.74 $4.96
Diluted Earnings Per Share $3.61 $3.74 $4.94
COMMON SHARES
Basic Shares Outstanding 40.90M shares 41.20M shares 42.95M shares
Diluted Shares Outstanding 41.20M shares

Balance Sheet

Concept 2019 Q4 2019 Q3 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $75.00M $32.00M $240.0M
YoY Change -68.75% -52.94% -65.76%
Cash & Equivalents $75.00M $32.00M $240.0M
Short-Term Investments
Other Short-Term Assets $119.0M $147.0M $122.0M
YoY Change -2.46% 47.0% -0.81%
Inventory $136.0M $139.0M $128.0M
Prepaid Expenses
Receivables $318.0M $489.0M $252.0M
Other Receivables $148.0M $0.00 $0.00
Total Short-Term Assets $1.785B $2.025B $1.745B
YoY Change 2.29% 8.93% -20.5%
LONG-TERM ASSETS
Property, Plant & Equipment $2.832B $2.700B $2.517B
YoY Change 12.51% 15.78% 13.63%
Goodwill $1.373B $1.402B $1.263B
YoY Change 8.71% 15.2% 3.78%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.414B $343.0M $2.121B
YoY Change 13.81% 10.29% 7.99%
Total Long-Term Assets $5.246B $5.159B $4.638B
YoY Change 13.11% 18.87% 10.98%
TOTAL ASSETS
Total Short-Term Assets $1.785B $2.025B $1.745B
Total Long-Term Assets $5.246B $5.159B $4.638B
Total Assets $7.031B $7.184B $6.383B
YoY Change 10.15% 15.89% 0.14%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $497.0M $616.0M $562.0M
YoY Change -11.57% 51.35% 49.87%
Accrued Expenses $525.0M $563.0M $473.0M
YoY Change 10.99% 12.38% -4.44%
Deferred Revenue $373.0M $344.0M $331.0M
YoY Change 12.69% 28.84% 126.71%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.890B $1.950B $1.829B
YoY Change 3.34% 19.56% 31.49%
LONG-TERM LIABILITIES
Long-Term Debt $1.286B $1.549B $1.283B
YoY Change 0.23% 20.83% 0.31%
Other Long-Term Liabilities $291.0M $259.0M $189.0M
YoY Change 53.97% 83.69% 87.13%
Total Long-Term Liabilities $1.577B $1.808B $1.472B
YoY Change 7.13% 27.06% 6.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.890B $1.950B $1.829B
Total Long-Term Liabilities $1.577B $1.808B $1.472B
Total Liabilities $5.443B $5.479B $4.867B
YoY Change 11.83% 25.26% 5.44%
SHAREHOLDERS EQUITY
Retained Earnings $3.009B $2.902B $2.609B
YoY Change 15.33% 19.23% 54.65%
Common Stock $1.961B $1.950B $1.954B
YoY Change 0.36% 0.31% 0.62%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.974B $1.916B $1.760B
YoY Change 12.16% 29.11% 81.07%
Treasury Stock Shares
Shareholders Equity $1.588B $1.705B $1.516B
YoY Change
Total Liabilities & Shareholders Equity $7.031B $7.184B $6.383B
YoY Change 10.15% 15.89% 0.14%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2018 Q4
OPERATING ACTIVITIES
Net Income $149.0M $154.0M $212.0M
YoY Change -29.72% -32.75% 231.25%
Depreciation, Depletion And Amortization $66.00M $55.00M $46.00M
YoY Change 43.48% 1.85% -11.54%
Cash From Operating Activities $566.0M $363.0M $648.0M
YoY Change -12.65% -490.32% 49.31%
INVESTING ACTIVITIES
Capital Expenditures -$181.0M -$115.0M -$170.0M
YoY Change 6.47% -0.86% 10.39%
Acquisitions
YoY Change
Other Investing Activities $24.00M $6.000M -$39.00M
YoY Change -161.54% -57.14% -285.71%
Cash From Investing Activities -$157.0M -$109.0M -$209.0M
YoY Change -24.88% 6.86% 57.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -366.0M -251.0M -267.0M
YoY Change 37.08% 85.93% 169.7%
NET CHANGE
Cash From Operating Activities 566.0M 363.0M 648.0M
Cash From Investing Activities -157.0M -109.0M -209.0M
Cash From Financing Activities -366.0M -251.0M -267.0M
Net Change In Cash 43.00M 3.000M 172.0M
YoY Change -75.0% -100.91% -14.85%
FREE CASH FLOW
Cash From Operating Activities $566.0M $363.0M $648.0M
Capital Expenditures -$181.0M -$115.0M -$170.0M
Free Cash Flow $747.0M $478.0M $818.0M
YoY Change -8.68% 1978.26% 39.12%

Facts In Submission

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CY2018Q4 us-gaap Common Stock Value Outstanding
CommonStockValueOutstanding
1000000 USD
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AdditionalPaidInCapitalCommonStock
1950000000 USD
CY2018Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
1954000000 USD
CY2019Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
2902000000 USD
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
2609000000 USD
CY2019Q3 us-gaap Treasury Stock Value
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1916000000 USD
CY2018Q4 us-gaap Treasury Stock Value
TreasuryStockValue
1760000000 USD
CY2019Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
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CY2018Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
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CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1705000000 USD
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1516000000 USD
CY2019Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
7184000000 USD
CY2018Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
6383000000 USD
us-gaap Net Income Loss
NetIncomeLoss
400000000 USD
us-gaap Net Income Loss
NetIncomeLoss
624000000 USD
us-gaap Depreciation
Depreciation
126000000 USD
us-gaap Increase Decrease In Inventory For Long Term Contracts Or Programs
IncreaseDecreaseInInventoryForLongTermContractsOrPrograms
14000000 USD
us-gaap Depreciation
Depreciation
129000000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
35000000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
28000000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2000000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
3000000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-5000000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-4000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
19000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
27000000 USD
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-42000000 USD
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
1000000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
223000000 USD
us-gaap Increase Decrease In Accounts Receivable
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33000000 USD
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
197000000 USD
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
280000000 USD
us-gaap Increase Decrease In Inventory For Long Term Contracts Or Programs
IncreaseDecreaseInInventoryForLongTermContractsOrPrograms
-3000000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
62000000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-5000000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
147000000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
230000000 USD
us-gaap Increase Decrease In Pension And Postretirement Obligations
IncreaseDecreaseInPensionAndPostretirementObligations
56000000 USD
us-gaap Increase Decrease In Pension And Postretirement Obligations
IncreaseDecreaseInPensionAndPostretirementObligations
-468000000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-4000000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-3000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
330000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
266000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
293000000 USD
hii Grantproceedsforcapitalexpenditures
Grantproceedsforcapitalexpenditures
71000000 USD
hii Grantproceedsforcapitalexpenditures
Grantproceedsforcapitalexpenditures
33000000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
195000000 USD
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PaymentsForAdvanceToAffiliate
10000000 USD
us-gaap Proceeds From Sale Of Productive Assets
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3000000 USD
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-3000000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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-470000000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-267000000 USD
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
5048000000 USD
hii Repaymentoflineofcreditborrowings
Repaymentoflineofcreditborrowings
4784000000 USD
us-gaap Payments Of Dividends Common Stock
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107000000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
95000000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
23000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
202000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
512000000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
25000000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-68000000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-632000000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-208000000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-633000000 USD
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
240000000 USD
CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
701000000 USD
CY2019Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
32000000 USD
CY2018Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
68000000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
124000000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
77000000 USD
us-gaap Interest Paid
InterestPaid
40000000 USD
us-gaap Interest Paid
InterestPaid
32000000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
12000000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
7000000 USD
hii Accruedrepurchasesofcommonstock
Accruedrepurchasesofcommonstock
2000000 USD
hii Accruedrepurchasesofcommonstock
Accruedrepurchasesofcommonstock
2000000 USD
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1699000000 USD
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
229000000 USD
CY2018Q3 us-gaap Dividends
Dividends
31000000 USD
CY2018Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions
12000000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
15000000 USD
CY2018Q3 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
99000000 USD
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1825000000 USD
CY2019Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1628000000 USD
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
154000000 USD
CY2019Q3 us-gaap Dividends
Dividends
35000000 USD
CY2019Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions
7000000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
19000000 USD
CY2019Q3 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
68000000 USD
CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1705000000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1758000000 USD
us-gaap Net Income Loss
NetIncomeLoss
624000000 USD
us-gaap Dividends
Dividends
95000000 USD
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions
2000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
43000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
512000000 USD
hii Cumulative Effectof Asu201409
CumulativeEffectofASU201409
5000000 USD
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1825000000 USD
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1516000000 USD
us-gaap Net Income Loss
NetIncomeLoss
400000000 USD
us-gaap Dividends
Dividends
107000000 USD
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions
-4000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
56000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
156000000 USD
CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1705000000 USD
us-gaap Nature Of Operations
NatureOfOperations
DESCRIPTION OF BUSINESS<div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;">Huntington Ingalls Industries, Inc. ("HII" or the "Company") is one of America’s largest military shipbuilding companies and a provider of professional services to partners in government and industry. HII is organized into </span><span style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;"><span>three</span></span><span style="font-family:Arial;font-size:10pt;"> reportable segments: Ingalls Shipbuilding ("Ingalls"), Newport News Shipbuilding ("Newport News"), and Technical Solutions. For more than a century, the Company's Ingalls segment in Mississippi and Newport News segment in Virginia have built more ships in more ship classes than any other U.S. naval shipbuilder. The Technical Solutions segment provides a range of services to the governmental, energy, and oil and gas markets.</span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;">HII conducts most of its business with the U.S. Government, primarily the Department of Defense ("DoD"). As prime contractor, principal subcontractor, team member, or partner, the Company participates in many high-priority U.S. defense technology programs. 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 </span><span style="font-family:Arial;font-size:10pt;font-style:italic;">Arleigh Burke </span><span style="font-family:Arial;font-size:10pt;">class (DDG 51) 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. The Technical Solutions segment provides a wide range of professional services, including fleet support, mission driven innovative solutions ("MDIS"), nuclear and environmental, and oil and gas services.</span></div>
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segments
us-gaap Fiscal Period
FiscalPeriod
<div style="line-height:120%;text-align:left;font-size:10pt;"><span 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.</span></div>
hii Deferredgainonreceiptofproperty
Deferredgainonreceiptofproperty
71000000 USD
hii Deferredgainonreceiptofproperty
Deferredgainonreceiptofproperty
33000000 USD
CY2019Q3 us-gaap Assets Held In Trust
AssetsHeldInTrust
136000000 USD
CY2018Q4 us-gaap Assets Held In Trust
AssetsHeldInTrust
109000000 USD
CY2019Q3 us-gaap Notes Receivable Net
NotesReceivableNet
39000000 USD
CY2019Q3 us-gaap Receivable With Imputed Interest Discount
ReceivableWithImputedInterestDiscount
9000000 USD
us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
ACCOUNTING STANDARDS UPDATES<div style="line-height:120%;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;">In February 2016, the FASB issued ASU 2016-02, "Leases (Topic 842)," which established a right-of-use model that requires a lessee to record the right-of-use asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Expense is recognized in the income statement similar to the recognition of expense under previous accounting guidance. Additional qualitative and quantitative disclosures are required. ASU 2016-02 was effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Prior to the FASB issuing ASU 2018-11 “Leases (Topic 842): Targeted Improvements,” entities were required to use </span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;">a modified retrospective approach upon adoption to recognize and measure leases at the beginning of the earliest comparative period presented in the financial statements. In January 2018, the FASB issued ASU 2018-01 "Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842," which permitted entities to forgo the evaluation of existing land easement arrangements to determine if they contain a lease as part of the adoption of ASU 2016-02 issued in February 2016. Accordingly, the Company’s accounting treatment of any existing land easement arrangements has not changed. The Company adopted this standard update concurrently with ASU 2016-02. In July 2018, the FASB issued ASU 2018-11, which provides entities the option to initially apply ASU 2016-02 at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. Consequently, the comparative periods presented in the financial statements would continue to comply with current GAAP.</span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;"> </span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;">The Company adopted ASU 2016-02 on January 1, 2019, using the optional transition method. In addition, the Company elected practical expedients permitted under the transition guidance within the new standard, which, among other things, allows it to carry forward historical lease classifications. The Company also elected the hindsight practical expedient to determine the reasonably certain lease term for existing leases. The Company's election of the hindsight practical expedient resulted in lengthening lease terms for certain existing leases. The Company made an accounting policy election not to recognize leases with an initial term of 12 months or less in the unaudited condensed consolidated statements of financial position and to recognize the lease payments in the unaudited condensed consolidated statements of operations and comprehensive income on a straight-line basis over the lease terms. The impact upon adoption was an increase to operating lease assets of </span><span style="font-family:Arial;font-size:10pt;"><span>$215 million</span></span><span style="font-family:Arial;font-size:10pt;">, an increase to short-term operating lease liabilities of </span><span style="font-family:Arial;font-size:10pt;"><span>$36 million</span></span><span style="font-family:Arial;font-size:10pt;">, an increase to long-term operating lease liabilities of </span><span style="font-family:Arial;font-size:10pt;"><span>$179 million</span></span><span style="font-family:Arial;font-size:10pt;">, and no material impact to retained earnings.</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;">In August 2018, the FASB issued ASU 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement," which changes the fair value measurement disclosure requirements of ASC 820. The update includes changes to disclosures regarding valuation techniques and inputs, uncertainty, judgments, and assumptions in fair value measurements, and how changes in fair value measurements affect performance and cash flows. The update is effective for annual reporting periods beginning after December 15, 2019, including interim periods therein. Early adoption is permitted for any eliminated or modified disclosures. The Company is currently evaluating the impact of ASU 2018-13 on its consolidated financial statements and disclosures, accounting processes, and internal controls.</span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;">In August 2018, the FASB issued ASU 2018-14, “Compensation—Retirement Benefits—Defined Benefit Plans—General (Subtopic 715-20): Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans,” which reduces disclosure requirements of Subtopic 715-20 and requires additional disclosure related to weighted-average interest crediting rates and significant gains and losses related to changes in the benefit obligation for the reporting period. The update is effective on a retrospective basis for fiscal years ending after December 15, 2020, with early adoption allowed. The Company is currently evaluating the impact of ASU 2018-14 on its consolidated financial statements and disclosures, accounting processes, and internal controls.</span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;"><br/></span></div>Other accounting pronouncements issued but not effective until after December 31, 2019, are not expected to have a material impact on the Company's consolidated financial position, results of operations, or cash flows.
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
CY2015Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
1200000000 USD
CY2017Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
2200000000 USD
CY2017Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
2200000000 USD
CY2019Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
3200000000 USD
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
751497 shares
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
156000000 USD
hii Treasury Stock Value Acquired Not Yet Settledfor Cash
TreasuryStockValueAcquiredNotYetSettledforCash
2000000 USD
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
hii Treasury Stock Value Previously Acquiredsettledforcash
TreasuryStockValuePreviouslyAcquiredsettledforcash
48000000 USD
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
2217629 shares
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
512000000 USD
hii Treasury Stock Value Acquired Not Yet Settledfor Cash
TreasuryStockValueAcquiredNotYetSettledforCash
2000000 USD
hii Treasury Stock Value Previously Acquiredsettledforcash
TreasuryStockValuePreviouslyAcquiredsettledforcash
2000000 USD
CY2019Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.86
CY2018Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.72
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
2.58
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
2.16
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
107000000 USD
us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
16000000 USD
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
95000000 USD
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
CY2018Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-1085000000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax
1000000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax
19000000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
5000000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
15000000 USD
CY2018Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-1070000000 USD
CY2019Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-1251000000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
1000000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax
-1000000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax
26000000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
7000000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
19000000 USD
CY2019Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-1232000000 USD
CY2017Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-900000000 USD
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-2000000 USD
us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax
2000000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax
59000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
43000000 USD
hii Cumulative Effectof Asu201601 Aoci
CumulativeEffectofASU201601AOCI
-11000000 USD
hii Cumulative Effectof Asu201802 Aoci
CumulativeEffectofASU201802AOCI
-202000000 USD
CY2018Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-1070000000 USD
CY2018Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-1288000000 USD
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
1000000 USD
us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax
-3000000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax
77000000 USD
us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
19000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
56000000 USD
CY2019Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-1232000000 USD
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
hii Cumulative Effectof Asu201802 Aoci
CumulativeEffectofASU201802AOCI
-202000000 USD
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41200000 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
43300000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41400000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44100000 shares
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
154000000 USD
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
229000000 USD
us-gaap Net Income Loss
NetIncomeLoss
400000000 USD
us-gaap Net Income Loss
NetIncomeLoss
624000000 USD
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41200000 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
43300000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41400000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
44100000 shares
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.74
CY2018Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
5.29
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
9.66
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
14.15
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.74
CY2018Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
5.29
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
9.66
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
14.15
CY2019Q3 us-gaap Revenues
Revenues
2219000000 USD
CY2019Q3 us-gaap Revenues
Revenues
2219000000 USD
CY2019Q3 us-gaap Revenues
Revenues
2219000000 USD
CY2018Q3 us-gaap Revenues
Revenues
2083000000 USD
CY2018Q3 us-gaap Revenues
Revenues
2083000000 USD
CY2018Q3 us-gaap Revenues
Revenues
2083000000 USD
us-gaap Revenues
Revenues
6487000000 USD
us-gaap Revenues
Revenues
6487000000 USD
us-gaap Revenues
Revenues
6487000000 USD
us-gaap Revenues
Revenues
5977000000 USD
us-gaap Revenues
Revenues
5977000000 USD
us-gaap Revenues
Revenues
5977000000 USD
CY2019Q3 us-gaap Revenues
Revenues
2219000000 USD
CY2018Q3 us-gaap Revenues
Revenues
2083000000 USD
us-gaap Revenues
Revenues
6487000000 USD
us-gaap Revenues
Revenues
5977000000 USD
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
CY2019Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
39200000000 USD
hii Revenueperformanceobligationrecognitionpercentageyeartwo
Revenueperformanceobligationrecognitionpercentageyeartwo
0.20
hii Revenueperformanceobligationrecognitionpercentageyearfour
Revenueperformanceobligationrecognitionpercentageyearfour
0.30
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
hii Increase Decreasein Net Contract Assets
IncreaseDecreaseinNetContractAssets
202000000 USD
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
CY2019Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
17000000 USD
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
261000000 USD
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
87000000 USD
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segments
CY2019Q3 us-gaap Revenues
Revenues
2219000000 USD
CY2018Q3 us-gaap Revenues
Revenues
2083000000 USD
us-gaap Revenues
Revenues
6487000000 USD
us-gaap Revenues
Revenues
5977000000 USD
CY2019Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
214000000 USD
CY2018Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
290000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
550000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
738000000 USD
CY2019Q3 us-gaap Assets
Assets
7184000000 USD
CY2018Q4 us-gaap Assets
Assets
6383000000 USD
CY2019Q3 hii Inventory Work In Process And General And Administrative Costs Included In Inventory Net Of Reserves
InventoryWorkInProcessAndGeneralAndAdministrativeCostsIncludedInInventoryNetOfReserves
37000000 USD
CY2018Q4 hii Inventory Work In Process And General And Administrative Costs Included In Inventory Net Of Reserves
InventoryWorkInProcessAndGeneralAndAdministrativeCostsIncludedInInventoryNetOfReserves
34000000 USD
CY2019Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
102000000 USD
CY2018Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
94000000 USD
CY2019Q3 us-gaap Inventory Net Of Allowances Customer Advances And Progress Billings
InventoryNetOfAllowancesCustomerAdvancesAndProgressBillings
139000000 USD
CY2018Q4 us-gaap Inventory Net Of Allowances Customer Advances And Progress Billings
InventoryNetOfAllowancesCustomerAdvancesAndProgressBillings
128000000 USD
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
CY2019Q3 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
2877000000 USD
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
CY2018Q4 us-gaap Goodwill
Goodwill
1263000000 USD
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
133000000 USD
us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
6000000 USD
CY2019Q3 us-gaap Goodwill
Goodwill
1402000000 USD
us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P40Y
CY2019Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
12000000 USD
CY2018Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
10000000 USD
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
35000000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
28000000 USD
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
47000000 USD
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
44000000 USD
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
40000000 USD
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
37000000 USD
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
27000000 USD
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
CY2019Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.222
CY2018Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.224
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.217
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.170
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
CY2019Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
24000000 USD
CY2019Q3 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
24000000 USD
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
CY2019Q3 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
20000000 USD
CY2018Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
22000000 USD
CY2019Q3 us-gaap Long Term Debt
LongTermDebt
1549000000 USD
CY2018Q4 us-gaap Long Term Debt
LongTermDebt
1283000000 USD
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
CY2019Q3 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
1642000000 USD
CY2018Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
1292000000 USD
CY2019Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
12000000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
35000000 USD
CY2019Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
9000000 USD
us-gaap Short Term Lease Cost
ShortTermLeaseCost
21000000 USD
CY2019Q3 us-gaap Variable Lease Cost
VariableLeaseCost
2000000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
5000000 USD
CY2019Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
-12000000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
-34000000 USD
CY2019Q3 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
4000000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
21000000 USD
CY2019Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P11Y
CY2019Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P11Y
CY2019Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.045
CY2019Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.045
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
11000000 USD
CY2018Q4 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
41000000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
42000000 USD
CY2018Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
36000000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
36000000 USD
CY2018Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
30000000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
29000000 USD
CY2018Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
20000000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
22000000 USD
CY2018Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
13000000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
127000000 USD
CY2018Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
56000000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
267000000 USD
CY2018Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
196000000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
-59000000 USD
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
208000000 USD
CY2019Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
36000000 USD
CY2019Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
172000000 USD
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
208000000 USD
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
CY2019Q3 dei Entity Number Of Employees
EntityNumberOfEmployees
41000
hii Percentageofworkforcesubjectto Collective Bargaining Arrangements
PercentageofworkforcesubjecttoCollectiveBargainingArrangements
0.50
CY2019Q3 hii Numberof Collective Bargaining Agreements
NumberofCollectiveBargainingAgreements
9
us-gaap Other Postretirement Benefits Payments
OtherPostretirementBenefitsPayments
23000000 USD
us-gaap Other Postretirement Benefits Payments
OtherPostretirementBenefitsPayments
23000000 USD
us-gaap Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
49000000 USD
us-gaap Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
537000000 USD
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
300000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
200000 shares
hii Sharebased Compensation Arrangementby Sharebased Payment Award Equity Instruments Other Than Options Transferred From Employeesfor Minimum Tax Obligations
SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsTransferredFromEmployeesforMinimumTaxObligations
100000 shares
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
371000 shares
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
201.91
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms
P1Y1M6D
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7000000 USD
CY2018Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11000000 USD
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
19000000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
27000000 USD
CY2019Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1000000 USD
CY2018Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
3000000 USD
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
3000000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
6000000 USD
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
hii Parentownershippercentageofsubsidiaryguarantors
Parentownershippercentageofsubsidiaryguarantors
1

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