Huntington Ingalls Industries Files 2024 10-K

TL;DR

HII dropped its 2024 10-K. Assets $150M, Liabs $53.7M. Shipbuilder looks solid.

AI Summary

Huntington Ingalls Industries, Inc. filed its 2024 10-K on February 6, 2025, reporting on its fiscal year ending December 31, 2024. The company, a leader in shipbuilding and repair, operates under the SIC code 3730. Key financial figures for the year include total assets of $150,000,000 and total liabilities of $53,714,128. The filing details its operations and financial health for the reporting period.

Why It Matters

This filing provides investors and analysts with a comprehensive overview of Huntington Ingalls Industries' financial performance and operational status for the fiscal year 2024, crucial for understanding the company's stability and future prospects in the defense and shipbuilding sectors.

Risk Assessment

Risk Level: low — The filing is a standard annual report (10-K) and does not indicate any immediate or unusual risks.

Key Numbers

• $150,000,000 — Total Assets (Reported for fiscal year 2024.)
• $53,714,128 — Total Liabilities (Reported for fiscal year 2024.)
• 2024-12-31 — Fiscal Year End (The period covered by the 10-K filing.)
• 2025-02-06 — Filing Date (The date the 10-K was submitted to the SEC.)
• 3730 — SIC Code (Industry classification for Ship & Boat Building & Repairing.)

Key Players & Entities

• HUNTINGTON INGALLS INDUSTRIES, INC. (company) — Filer
• 2024-12-31 (date) — Fiscal Year End
• 2025-02-06 (date) — Filing Date
• 3730 (other) — Standard Industrial Classification (SIC)
• 150,000,000 (dollar_amount) — Total Assets
• 53,714,128 (dollar_amount) — Total Liabilities

FAQ

Key Financial Figures

• $8.8 billion — 9, we received contract awards totaling $8.8 billion for construction preparation, detail de
• $15.3 billion — have received contract awards valued at $15.3 billion for detail design and construction of t
• $48.7 billion — 23, our total backlog was approximately $48.7 billion and $48.1 billion, respectively. We exp
• $48.1 b — log was approximately $48.7 billion and $48.1 billion, respectively. We expect approxim

Filing Documents

• hii-20241231.htm (10-K) — 3029KB
• hii-ex410202410xk.htm (EX-4.10) — 15KB
• hii-ex19202410xk.htm (EX-19) — 161KB
• hii-ex211202410xk.htm (EX-21.1) — 25KB
• hii-ex22202410xk.htm (EX-22) — 6KB
• hii-ex231202410xk.htm (EX-23.1) — 2KB
• hii-ex311202410xk.htm (EX-31.1) — 10KB
• hii-ex312202410xk.htm (EX-31.2) — 10KB
• hii-ex321202410xk.htm (EX-32.1) — 4KB
• hii-ex322202410xk.htm (EX-32.2) — 4KB
• hii-20241231_g1.jpg (GRAPHIC) — 109KB
• image_0.jpg (GRAPHIC) — 8KB
• image_01.jpg (GRAPHIC) — 8KB
• 0001501585-25-000006.txt ( ) — 15382KB
• hii-20241231.xsd (EX-101.SCH) — 79KB
• hii-20241231_cal.xml (EX-101.CAL) — 113KB
• hii-20241231_def.xml (EX-101.DEF) — 492KB
• hii-20241231_lab.xml (EX-101.LAB) — 1076KB
• hii-20241231_pre.xml (EX-101.PRE) — 803KB
• hii-20241231_htm.xml (XML) — 2753KB

RISK FACTORS

Item 1A. RISK FACTORS 11

UNRESOLVED STAFF COMMENTS

Item 1B. UNRESOLVED STAFF COMMENTS 28

CYBERSECURITY

Item 1C. CYBERSECURITY 28

PROPERTIES

Item 2. PROPERTIES 30

LEGAL PROCEEDINGS

Item 3. LEGAL PROCEEDINGS 30

MINE SAFETY DISCLOSURES

Item 4. MINE SAFETY DISCLOSURES 31 PART II

MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

Item 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 32

[RESERVED]

Item 6. [RESERVED] 33

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Item 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 33

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Item 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 54

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

Item 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 56 REPORTS OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 56 CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME 59 CONSOLIDATED STATEMENTS OF FINANCIAL POSITION 60 CONSOLIDATED STATEMENTS OF CASH FLOWS 62 CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY 63

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 64

CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

Item 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 102

CONTROLS AND PROCEDURES

Item 9A. CONTROLS AND PROCEDURES 102

OTHER INFORMATION

Item 9B. OTHER INFORMATION 103

DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS

Item 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 103 PART III

DIRECTORS, EXECUTIVE OFFICERS, AND CORPORATE GOVERNANCE

Item 10. DIRECTORS, EXECUTIVE OFFICERS, AND CORPORATE GOVERNANCE 104

EXECUTIVE COMPENSATION

Item 11. EXECUTIVE COMPENSATION 106

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

Item 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 107

CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

Item 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 107

PRINCIPAL ACCOUNTANT FEES AND SERVICES

Item 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES 107 PART IV

EXHIBITS AND FINANCIAL STATEMENT SCHEDULES

Item 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 108

FORM 10-K SUMMARY

Item 16. FORM 10-K SUMMARY 113

SIGNATURES

SIGNATURES 114 i Table of Contents PART I

BUSINESS

ITEM 1. BUSINESS History and Organization Huntington Ingalls Industries, Inc. ("HII", the "Company", "we", "us", or "our") is a global, all-domain defense partner, building and delivering the world's most powerful, survivable naval ships and technologies that safeguard America's seas, sky, land, space, and cyber. For more than a century, our Ingalls Shipbuilding segment ("Ingalls") in Mississippi and Newport News Shipbuilding segment ("Newport News") in Virginia have built more ships in more ship classes than any other U.S. naval shipbuilder, making us America's largest shipbuilder. Our Mission Technologies segment develops integrated technology solutions and products that enable today's connected, all domain force. Headquartered in Newport News, Virginia, we employ over 44,000 people domestically and internationally. We conduct most of our business with the U.S. Government, primarily the Department of Defense ("DoD"). As prime contractor, principal subcontractor, team member, or partner, we participate in many high-priority U.S. defense programs. Ingalls includes our non-nuclear ship design, construction, repair, and maintenance businesses. Newport News includes all of our nuclear ship design, construction, overhaul, refueling, and repair and maintenance businesses. Our Mission Technologies segment provides a wide range of services and products, including command, control, computers, communications, cyber, intelligence, surveillance, and reconnaissance systems and operations; the application of artificial intelligence and machine learning to battlefield decisions; defense and offensive cyberspace strategies and electronic warfare; uncrewed autonomous systems; live, virtual, and constructive training solutions; fleet sustainment; and critical nuclear operations. Ingalls Through our Ingalls segment, we design and construct non-nuclear ships for the U.S. Navy and U.S. Coast Guard, including amphibious assault ships, expeditionary warfare ships, surface comba

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View this 10-K filing on SEC EDGAR