$HII
HUNTINGTON INGALLS INDUSTRIES, INC.

2020 Q4 Form 10-Q Financial Statement

#000150158520000042 Filed on November 05, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q4
Revenue $2.757B $2.314B $2.412B
YoY Change 14.3% 4.28% 9.69%
Cost Of Revenue $2.210B $1.878B $1.980B
YoY Change 11.62% 4.22% 14.52%
Gross Profit $547.0M $436.0M $432.0M
YoY Change 26.62% 4.56% -8.09%
Gross Profit Margin 19.84% 18.84% 17.91%
Selling, General & Admin $256.0M $220.0M $224.0M
YoY Change 14.29% 5.26% -14.5%
% of Gross Profit 46.8% 50.46% 51.85%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $70.00M $59.00M $66.00M
YoY Change 6.06% 7.27% 43.48%
% of Gross Profit 12.8% 13.53% 15.28%
Operating Expenses $255.0M $220.0M $224.0M
YoY Change 13.84% 5.26% -14.5%
Operating Profit $305.0M $222.0M $186.0M
YoY Change 63.98% 3.74% -12.68%
Interest Expense -$33.00M $27.00M -$11.00M
YoY Change 200.0% 50.0% 22.22%
% of Operating Profit -10.82% 12.16% -5.91%
Other Income/Expense, Net $44.00M $2.000M $4.000M
YoY Change 1000.0% -300.0% -80.0%
Pretax Income $303.0M $226.0M $172.0M
YoY Change 76.16% 14.14% -21.46%
Income Tax $54.00M $4.000M $23.00M
% Of Pretax Income 17.82% 1.77% 13.37%
Net Earnings $249.0M $222.0M $149.0M
YoY Change 67.11% 44.16% -29.72%
Net Earnings / Revenue 9.03% 9.59% 6.18%
Basic Earnings Per Share $6.15 $5.47 $3.62
Diluted Earnings Per Share $6.15 $5.45 $3.61
COMMON SHARES
Basic Shares Outstanding 40.49M shares 40.60M shares 40.90M shares
Diluted Shares Outstanding 40.70M shares

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $512.0M $744.0M $75.00M
YoY Change 582.67% 2225.0% -68.75%
Cash & Equivalents $512.0M $744.0M $75.00M
Short-Term Investments
Other Short-Term Assets $178.0M $196.0M $119.0M
YoY Change 49.58% 33.33% -2.46%
Inventory $137.0M $152.0M $136.0M
Prepaid Expenses
Receivables $397.0M $492.0M $318.0M
Other Receivables $171.0M $163.0M $148.0M
Total Short-Term Assets $2.444B $2.881B $1.785B
YoY Change 36.92% 42.27% 2.29%
LONG-TERM ASSETS
Property, Plant & Equipment $2.978B $2.907B $2.832B
YoY Change 5.16% 7.67% 12.51%
Goodwill $1.617B $1.577B $1.373B
YoY Change 17.77% 12.48% 8.71%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.735B $366.0M $2.414B
YoY Change 13.3% 6.71% 13.81%
Total Long-Term Assets $5.713B $5.564B $5.246B
YoY Change 8.9% 7.85% 13.11%
TOTAL ASSETS
Total Short-Term Assets $2.444B $2.881B $1.785B
Total Long-Term Assets $5.713B $5.564B $5.246B
Total Assets $8.157B $8.445B $7.031B
YoY Change 16.01% 17.55% 10.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $460.0M $429.0M $497.0M
YoY Change -7.44% -30.36% -11.57%
Accrued Expenses $582.0M $615.0M $525.0M
YoY Change 10.86% 9.24% 10.99%
Deferred Revenue $585.0M $604.0M $373.0M
YoY Change 56.84% 75.58% 12.69%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.226B $2.233B $1.890B
YoY Change 17.78% 14.51% 3.34%
LONG-TERM LIABILITIES
Long-Term Debt $1.686B $2.278B $1.286B
YoY Change 31.1% 47.06% 0.23%
Other Long-Term Liabilities $315.0M $329.0M $291.0M
YoY Change 8.25% 27.03% 53.97%
Total Long-Term Liabilities $2.001B $2.607B $1.577B
YoY Change 26.89% 44.19% 7.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.226B $2.233B $1.890B
Total Long-Term Liabilities $2.001B $2.607B $1.577B
Total Liabilities $6.256B $6.565B $5.443B
YoY Change 14.94% 19.82% 11.83%
SHAREHOLDERS EQUITY
Retained Earnings $3.533B $3.330B $3.009B
YoY Change 17.41% 14.75% 15.33%
Common Stock $1.972B $1.964B $1.961B
YoY Change 0.56% 0.72% 0.36%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.058B $2.058B $1.974B
YoY Change 4.26% 7.41% 12.16%
Treasury Stock Shares
Shareholders Equity $1.901B $1.880B $1.588B
YoY Change
Total Liabilities & Shareholders Equity $8.157B $8.445B $7.031B
YoY Change 16.01% 17.55% 10.15%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q4
OPERATING ACTIVITIES
Net Income $249.0M $222.0M $149.0M
YoY Change 67.11% 44.16% -29.72%
Depreciation, Depletion And Amortization $70.00M $59.00M $66.00M
YoY Change 6.06% 7.27% 43.48%
Cash From Operating Activities $602.0M $222.0M $566.0M
YoY Change 6.36% -38.84% -12.65%
INVESTING ACTIVITIES
Capital Expenditures -$133.0M -$70.00M -$181.0M
YoY Change -26.52% -39.13% 6.47%
Acquisitions
YoY Change
Other Investing Activities -$40.00M $3.000M $24.00M
YoY Change -266.67% -50.0% -161.54%
Cash From Investing Activities -$173.0M -$67.00M -$157.0M
YoY Change 10.19% -38.53% -24.88%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -661.0M -42.00M -366.0M
YoY Change 80.6% -83.27% 37.08%
NET CHANGE
Cash From Operating Activities 602.0M 222.0M 566.0M
Cash From Investing Activities -173.0M -67.00M -157.0M
Cash From Financing Activities -661.0M -42.00M -366.0M
Net Change In Cash -232.0M 113.0M 43.00M
YoY Change -639.53% 3666.67% -75.0%
FREE CASH FLOW
Cash From Operating Activities $602.0M $222.0M $566.0M
Capital Expenditures -$133.0M -$70.00M -$181.0M
Free Cash Flow $735.0M $292.0M $747.0M
YoY Change -1.61% -38.91% -8.68%

Facts In Submission

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CY2019Q4 us-gaap Liabilities Current
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CY2019Q4 us-gaap Long Term Debt Noncurrent
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CY2019Q4 us-gaap Defined Benefit Pension Plan Liabilities Noncurrent
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CY2019Q4 us-gaap Other Postretirement Defined Benefit Plan Liabilities Noncurrent
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CY2019Q4 us-gaap Workers Compensation Liability Noncurrent
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CY2020Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
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CY2019Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
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CY2019Q4 us-gaap Other Liabilities Noncurrent
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CY2020Q3 us-gaap Liabilities
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CY2019Q4 us-gaap Liabilities
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CY2020Q3 us-gaap Commitments And Contingencies
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CY2019Q4 us-gaap Commitments And Contingencies
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CY2019Q4 us-gaap Common Stock Value Outstanding
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CY2019Q4 us-gaap Additional Paid In Capital Common Stock
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CY2020Q3 us-gaap Retained Earnings Accumulated Deficit
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CY2020Q3 us-gaap Treasury Stock Value
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CY2019Q4 us-gaap Treasury Stock Value
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CY2020Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2019Q4 us-gaap Liabilities And Stockholders Equity
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us-gaap Net Income Loss
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us-gaap Depreciation
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us-gaap Depreciation
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us-gaap Provision For Doubtful Accounts
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
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us-gaap Increase Decrease In Deferred Income Taxes
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us-gaap Increase Decrease In Deferred Income Taxes
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us-gaap Marketable Securities Gain Loss
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us-gaap Marketable Securities Gain Loss
MarketableSecuritiesGainLoss
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us-gaap Asset Impairment Charges
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us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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us-gaap Increase Decrease In Contract With Customer Asset
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us-gaap Increase Decrease In Inventory For Long Term Contracts Or Programs
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5000000 USD
us-gaap Increase Decrease In Inventory For Long Term Contracts Or Programs
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14000000 USD
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IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
60000000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
56000000 USD
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315000000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Net Cash Provided By Used In Investing Activities
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hii Repaymentoflineofcreditborrowings
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hii Repaymentoflineofcreditborrowings
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
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CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2019Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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us-gaap Interest Paid
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us-gaap Capital Expenditures Incurred But Not Yet Paid
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hii Accruedrepurchasesofcommonstock
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CY2019Q3 us-gaap Net Income Loss
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CY2019Q3 us-gaap Dividends
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CY2019Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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19000000 USD
CY2019Q3 us-gaap Treasury Stock Value Acquired Cost Method
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68000000 USD
CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2020Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2020Q3 us-gaap Net Income Loss
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CY2020Q3 us-gaap Dividends
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OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
19000000 USD
CY2020Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1880000000 USD
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StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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us-gaap Net Income Loss
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400000000 USD
us-gaap Dividends
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107000000 USD
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
56000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
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156000000 USD
CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1705000000 USD
CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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us-gaap Net Income Loss
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447000000 USD
us-gaap Dividends
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126000000 USD
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
52000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
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CY2020Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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1880000000 USD
us-gaap Nature Of Operations
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DESCRIPTION OF BUSINESS<div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 three 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><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Arleigh Burke </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 defense and federal services ("DFS"), nuclear and environmental services, and unmanned solutions.</span></div>
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segments
us-gaap Fiscal Period
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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.
us-gaap Use Of Estimates
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<div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Accounting Estimates</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> - 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. </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Additionally, the Company has incorporated realized and estimated future effects of the global outbreak of coronavirus disease 2019 (“COVID-19”), including, among other things, orders of civil authorities associated with COVID-19 and steps taken to mitigate the effects of COVID-19 (collectively, “COVID-19 Events”), with respect to contract costs and revenue recognition, effective income tax rates, and the fair values of the Company’s long-lived assets, financial instruments, intangible assets, and goodwill recorded at our reporting units. For the nine months ended September 30, 2020, the Company recognized across all programs an aggregate unfavorable impact on operating margin of $61 million for delay and disruption from lower employee attendance, limited availability of critical skills, and out-of-sequence work directly attributable to COVID-19 Events. While costs related to COVID-19 </span></div>Events are allowable under U.S. Government contracts, the Company's estimates of the effects of COVID-19 Events reflect uncertainty regarding the Company's ability to recover the full costs related to COVID-19 Events under government relief actions such as the Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act") and U.S. Department of Defense ("DoD") guidance.
hii Deferredgainonreceiptofproperty
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17000000 USD
hii Deferredgainonreceiptofproperty
Deferredgainonreceiptofproperty
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CY2020Q3 us-gaap Assets Held In Trust
AssetsHeldInTrust
165000000 USD
CY2019Q4 us-gaap Assets Held In Trust
AssetsHeldInTrust
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CY2020Q3 us-gaap Notes Receivable Net
NotesReceivableNet
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CY2020Q3 us-gaap Receivable With Imputed Interest Discount
ReceivableWithImputedInterestDiscount
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us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
ACCOUNTING STANDARDS UPDATESIn June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (ASU 2016-13), which changes the current incurred loss model to a forward-looking expected credit loss model for most financial assets, such as trade and other receivables, loans and other instruments. The ASU is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years, with early adoption permitted. Entities are required to apply the provisions of the standard through a cumulative-effect adjustment to retained earnings as of the effective date. The Company adopted the provisions of ASU 2016-13 on January 1, 2020. The adoption did not result in a material impact to the Company’s financial results or disclosures.Accounting pronouncements issued but not effective until after December 31, 2020, are not expected to have a material impact on the Company's consolidated financial position, results of operations, or cash flows.
CY2017Q4 us-gaap Stock Repurchase Program Authorized Amount1
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CY2019Q4 us-gaap Stock Repurchase Program Authorized Amount1
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us-gaap Treasury Stock Shares Acquired
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us-gaap Treasury Stock Value Acquired Cost Method
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156000000 USD
hii Treasury Stock Value Acquired Not Yet Settledfor Cash
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CY2019Q3 us-gaap Common Stock Dividends Per Share Declared
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us-gaap Common Stock Dividends Per Share Declared
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3.09
us-gaap Common Stock Dividends Per Share Declared
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us-gaap Dividends Common Stock Cash
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us-gaap Dividends Common Stock Cash
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-1000000 USD
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26000000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
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CY2019Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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19000000 USD
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-2000000 USD
CY2020Q3 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
CY2020Q3 us-gaap Other Comprehensive Income Loss Tax
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CY2020Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
19000000 USD
CY2020Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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-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
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-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
CY2019Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-1409000000 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
-7000000 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
18000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
52000000 USD
CY2020Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-1357000000 USD
CY2020Q3 us-gaap Net Income Loss
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222000000 USD
CY2019Q3 us-gaap Net Income Loss
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154000000 USD
us-gaap Net Income Loss
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447000000 USD
us-gaap Net Income Loss
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400000000 USD
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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40600000 shares
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41200000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40600000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41400000 shares
CY2020Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
100000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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100000 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40700000 shares
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41200000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40700000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41400000 shares
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
5.47
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EarningsPerShareBasic
3.74
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
11.01
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
9.66
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
5.45
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.74
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
10.98
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
9.66
us-gaap Operating Income Loss
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CY2020Q3 us-gaap Revenues
Revenues
2314000000 USD
CY2020Q3 us-gaap Revenues
Revenues
2314000000 USD
CY2020Q3 us-gaap Revenues
Revenues
2314000000 USD
CY2019Q3 us-gaap Revenues
Revenues
2219000000 USD
CY2019Q3 us-gaap Revenues
Revenues
2219000000 USD
CY2019Q3 us-gaap Revenues
Revenues
2219000000 USD
us-gaap Revenues
Revenues
6604000000 USD
us-gaap Revenues
Revenues
6604000000 USD
us-gaap Revenues
Revenues
6604000000 USD
us-gaap Revenues
Revenues
6487000000 USD
us-gaap Revenues
Revenues
6487000000 USD
us-gaap Revenues
Revenues
6487000000 USD
CY2020Q3 us-gaap Revenues
Revenues
2314000000 USD
CY2019Q3 us-gaap Revenues
Revenues
2219000000 USD
us-gaap Revenues
Revenues
6604000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
550000000 USD
us-gaap Revenues
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6487000000 USD
CY2020Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
45300000000 USD
hii Revenueperformanceobligationrecognitionpercentageyeartwo
Revenueperformanceobligationrecognitionpercentageyeartwo
0.20
hii Revenueperformanceobligationrecognitionpercentageyearfour
Revenueperformanceobligationrecognitionpercentageyearfour
0.25
hii Increase Decreasein Net Contract Assets
IncreaseDecreaseinNetContractAssets
-86000000 USD
CY2020Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
9000000 USD
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
265000000 USD
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 Number Of Reportable Segments
NumberOfReportableSegments
3 segments
CY2020Q3 us-gaap Revenues
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2314000000 USD
CY2019Q3 us-gaap Revenues
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2219000000 USD
us-gaap Revenues
Revenues
6604000000 USD
us-gaap Revenues
Revenues
6487000000 USD
CY2020Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
222000000 USD
CY2019Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
214000000 USD
CY2020Q3 us-gaap Assets
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8445000000 USD
CY2019Q4 us-gaap Assets
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7031000000 USD
CY2020Q3 hii Inventory Work In Process And General And Administrative Costs Included In Inventory Net Of Reserves
InventoryWorkInProcessAndGeneralAndAdministrativeCostsIncludedInInventoryNetOfReserves
25000000 USD
CY2019Q4 hii Inventory Work In Process And General And Administrative Costs Included In Inventory Net Of Reserves
InventoryWorkInProcessAndGeneralAndAdministrativeCostsIncludedInInventoryNetOfReserves
30000000 USD
CY2020Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
127000000 USD
CY2019Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
106000000 USD
CY2020Q3 us-gaap Inventory Net Of Allowances Customer Advances And Progress Billings
InventoryNetOfAllowancesCustomerAdvancesAndProgressBillings
152000000 USD
CY2019Q4 us-gaap Inventory Net Of Allowances Customer Advances And Progress Billings
InventoryNetOfAllowancesCustomerAdvancesAndProgressBillings
136000000 USD
CY2020Q3 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
2906000000 USD
CY2019Q4 us-gaap Goodwill
Goodwill
1373000000 USD
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
310000000 USD
us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
-106000000 USD
CY2020Q3 us-gaap Goodwill
Goodwill
1577000000 USD
us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P40Y
CY2020Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
15000000 USD
CY2019Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
12000000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
41000000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
35000000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
25000000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
35000000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
55000000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
51000000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
45000000 USD
CY2020Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.018
CY2019Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.222
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.118
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.217
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2020Q3 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
20000000 USD
CY2020Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
60000000 USD
CY2020Q3 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
48000000 USD
us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
1000000 USD
CY2020Q3 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
27000000 USD
CY2019Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
19000000 USD
CY2020Q3 us-gaap Long Term Debt
LongTermDebt
2278000000 USD
CY2019Q4 us-gaap Long Term Debt
LongTermDebt
1286000000 USD
CY2020Q3 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
2522000000 USD
CY2019Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
1379000000 USD
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
84000000 USD
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
500000000 USD
CY2020Q3 us-gaap Loss Contingency Number Of Defendants
LossContingencyNumberOfDefendants
32 numberOfReinsurers
us-gaap Operating Lease Cost
OperatingLeaseCost
42000000 USD
CY2020Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
13000000 USD
CY2019Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
12000000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
35000000 USD
CY2020Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
8000000 USD
CY2019Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
9000000 USD
us-gaap Short Term Lease Cost
ShortTermLeaseCost
21000000 USD
us-gaap Short Term Lease Cost
ShortTermLeaseCost
21000000 USD
CY2020Q3 us-gaap Variable Lease Cost
VariableLeaseCost
1000000 USD
CY2019Q3 us-gaap Variable Lease Cost
VariableLeaseCost
2000000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
3000000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
5000000 USD
CY2020Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
14000000 USD
CY2019Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
12000000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
42000000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
34000000 USD
CY2020Q3 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
26000000 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
47000000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
21000000 USD
CY2020Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P10Y
CY2019Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P11Y
CY2020Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P10Y
CY2019Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P11Y
CY2020Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.041
CY2019Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.045
CY2020Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.041
CY2019Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.045
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
12000000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
45000000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
44000000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
38000000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
34000000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
30000000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
29000000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
24000000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
25000000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
22000000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
128000000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
114000000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
272000000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
273000000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
-57000000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
-58000000 USD
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
215000000 USD
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
215000000 USD
CY2020Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
35000000 USD
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
35000000 USD
CY2020Q3 hii Disposal Group Including Discontinued Operation Lease Liability
DisposalGroupIncludingDiscontinuedOperationLeaseLiability
27000000 USD
CY2019Q4 hii Disposal Group Including Discontinued Operation Lease Liability
DisposalGroupIncludingDiscontinuedOperationLeaseLiability
16000000 USD
CY2020Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
153000000 USD
CY2019Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
164000000 USD
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
215000000 USD
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
215000000 USD
CY2020Q3 dei Entity Number Of Employees
EntityNumberOfEmployees
42000
hii Percentageofworkforcesubjectto Collective Bargaining Arrangements
PercentageofworkforcesubjecttoCollectiveBargainingArrangements
0.50
CY2020Q3 hii Numberof Collective Bargaining Agreements
NumberofCollectiveBargainingAgreements
8
us-gaap Other Postretirement Benefits Payments
OtherPostretirementBenefitsPayments
25000000 USD
us-gaap Other Postretirement Benefits Payments
OtherPostretirementBenefitsPayments
23000000 USD
us-gaap Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
236000000 USD
us-gaap Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
49000000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
100000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
300000 shares
hii Sharebased Compensation Arrangementby Sharebased Payment Award Equity Instruments Other Than Options Transferred From Employeesfor Minimum Tax Obligations
SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsTransferredFromEmployeesforMinimumTaxObligations
100000 shares
CY2020Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1000000 USD
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
376000 shares
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
212.44
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms
P1Y2M12D
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3000000 USD
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7000000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
16000000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
19000000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
3000000 USD
hii Parentownershippercentageofsubsidiaryguarantors
Parentownershippercentageofsubsidiaryguarantors
1

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