HUNTINGTON INGALLS INDUSTRIES, INC., 10-K filed on 2/5/2026
Annual Report
v3.25.4
Document And Entity Information - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Jan. 30, 2026
Jun. 30, 2025
Document And Entity Information [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2025    
Document Transition Report false    
Entity File Number 001-34910    
Entity Registrant Name HUNTINGTON INGALLS INDUSTRIES, INC.    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 90-0607005    
Entity Address, Address Line One 4101 Washington Avenue    
Entity Address, City or Town Newport News    
Entity Address, State or Province VA    
Entity Address, Postal Zip Code 23607    
City Area Code 757    
Local Phone Number 380-2000    
Title of 12(b) Security Common Stock    
Trading Symbol HII    
Security Exchange Name NYSE    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction Flag false    
Entity Shell Company false    
Entity Public Float     $ 9,475
Entity Common Stock, Shares Outstanding   39,242,688  
Document Fiscal Year Focus 2025    
Entity Central Index Key 0001501585    
Current Fiscal Year End Date --12-31    
Document Fiscal Period Focus FY    
Amendment Flag false    
v3.25.4
Audit Information
 12 Months Ended
Dec. 31, 2025
Audit Information [Abstract]  
Auditor Name Deloitte & Touche LLP
Auditor Location Richmond, Virginia
Auditor Firm ID 34
v3.25.4
Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Sales and service revenues $ 12,484 $ 11,535 $ 11,454
Cost of sales and service revenues      
Income (loss) from operating investments, net 46 49 37
Other income and gains, net 3 9 120
General and administrative expenses 977 973 1,022
Operating income (loss) 657 535 781
Other income (expense)      
Interest expense (105) (95) (95)
Non-operating retirement benefit (expense) 190 179 148
Other, net 35 24 19
Earnings (loss) before income taxes 777 643 853
Federal and foreign income taxes 172 93 172
Net earnings (loss) $ 605 $ 550 $ 681
Basic earnings (loss) per share $ 15.39 $ 13.96 $ 17.07
Weighted-average common shares outstanding (in shares) 39.3 39.4 39.9
Diluted earnings (loss) per share $ 15.39 $ 13.96 $ 17.07
Weighted-average diluted shares outstanding (in shares) 39.3 39.4 39.9
Other comprehensive income (loss)      
Change in unamortized benefit plan costs $ (33) $ 528 $ 238
Tax benefit (expense) for items of other comprehensive income 8 (134) (61)
Other comprehensive income (loss), net of tax (25) 394 177
Comprehensive income (loss) 580 944 858
Product [Member]      
Sales and service revenues 8,133 7,464 7,664
Cost of sales and service revenues      
Cost of sales and services revenues 7,081 6,500 6,467
Service [Member]      
Sales and service revenues 4,351 4,071 3,790
Cost of sales and service revenues      
Cost of sales and services revenues $ 3,818 $ 3,585 $ 3,341
v3.25.4
Consolidated Statements of Financial Position - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Current Assets    
Cash and cash equivalents $ 774 $ 831
Accounts receivable, net 339 212
Contract assets 1,758 1,683
Inventoried costs 219 208
Income taxes receivable 284 204
Prepaid expenses and other current assets 77 90
Total current assets 3,451 3,228
Land and land improvements 400 377
Buildings and leasehold improvements 3,483 3,182
Machinery and other equipment 2,402 2,267
Capitalized software costs 195 207
Property, plant and equipment, gross 6,480 6,033
Accumulated depreciation and amortization (2,754) (2,583)
Property, plant, and equipment, net 3,726 3,450
Other Assets    
Operating lease assets 267 239
Goodwill 2,650 2,618
Other intangible assets, net 694 782
Pension plan assets 1,544 1,422
Miscellaneous other assets 417 402
Total other assets 5,572 5,463
Total assets 12,749 12,141
Current Liabilities    
Trade accounts payable 556 598
Accrued employees' compensation 443 392
Current portion of long-term debt   503
Current portion of postretirement plan liabilities 119 124
Current portion of workers' compensation liabilities 217 201
Contract liabilities 1,220 774
Other current liabilities 490 399
Total current liabilities 3,045 2,991
Long-term debt 2,700 2,700
Pension plan liabilities 155 142
Other postretirement plan liabilities 200 209
Workers' compensation liabilities 442 443
Long-term operating lease liabilities 223 205
Deferred tax liabilities 572 378
Other long-term liabilities 339 407
Total liabilities 7,676 7,475
Commitments and Contingencies (Note 16)
Stockholders' Equity    
Common stock 1 1
Additional paid-in capital 2,087 2,045
Retained earnings (deficit) 5,487 5,097
Treasury stock (2,449) (2,449)
Accumulated other comprehensive income (loss) (53) (28)
Total stockholders' equity 5,073 4,666
Total liabilities and stockholders' equity $ 12,749 $ 12,141
v3.25.4
Consolidated Statements Of Financial Position (Parenthetical) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Common stock, par value $ 0.01 $ 0.01
Common stock, shares authorized 150,000,000 150,000,000
Common stock, shares issued 53,826,236 53,714,128
Common stock, shares outstanding 39,241,527 39,129,419
Finite-Lived Intangible Assets, Accumulated Amortization $ 1,222 $ 1,118
v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating Activities      
Net earnings (loss) $ 605 $ 550 $ 681
Adjustments to reconcile to net cash provided by (used in) operating activities      
Depreciation 225 217 219
Amortization of purchased intangibles 104 109 128
Stock-based compensation 54 23 34
Deferred income taxes 203 (122) (113)
Gain on investments in marketable securities (34) (22) (23)
Other non-cash transactions, net 23 10 29
Change in      
Accounts receivable (127) 256 168
Contract assets (75) (146) (297)
Inventoried costs (11) (22) (3)
Prepaid expenses and other assets (66) (33) (42)
Accounts payable and accruals 449 (315) 264
Retiree benefits (154) (112) (75)
Net cash provided by (used in) operating activities 1,196 393 970
Capital expenditures      
Capital expenditure additions (402) (367) (292)
Grant proceeds for capital expenditures 6 14 14
Acquisitions of businesses, net of cash received (132)    
Investment in affiliates     (24)
Proceeds from equity method investment     63
Proceeds from sale of investments 5    
Other investing activities, net 2 5 3
Net cash provided by (used in) investing activities (521) (348) (236)
Financing Activities      
Proceeds from issuance of long-term debt   1,000  
Repayment of long-term debt (500) (229) (480)
Proceeds from line of credit borrowings   42  
Repayment of line of credit borrowings   (42)  
Debt issuance costs   (17)  
Dividends paid (213) (206) (200)
Repurchases of common stock   (162) (75)
Employee taxes on certain share-based payment arrangements (14) (25) (13)
Other financing activities, net (5) (5) (3)
Net cash provided by (used in) financing activities (732) 356 (771)
Change in cash and cash equivalents (57) 401 (37)
Cash and cash equivalents, beginning of period 831 430 467
Cash and cash equivalents, end of period 774 831 430
Supplemental Cash Flow Disclosure      
Cash paid for interest 108 101 101
Non-Cash Investing and Financing Activities      
Capital expenditures accrued in accounts payable $ 23 $ 23 $ 29
v3.25.4
Consolidated Statements of Changes in Equity - USD ($)
$ in Millions
Total
Common Stock
Additional Paid-in Capital
Retained Earnings (Deficit)
Treasury Stock, Common
Accumulated Other Comprehensive Income (Loss)
Balance at Dec. 31, 2022 $ 3,489 $ 1 $ 2,022 $ 4,276 $ (2,211) $ (599)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net earnings (loss) 681     681    
Dividends declared (200)     (200)    
Stock compensation 21   23 (2)    
Other comprehensive income (loss), net of tax 177         177
Treasury stock activity (75)       (75)  
Balance at Dec. 31, 2023 4,093 1 2,045 4,755 (2,286) (422)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net earnings (loss) 550     550    
Dividends declared (206)     (206)    
Stock compensation (2)     (2)    
Other comprehensive income (loss), net of tax 394         394
Treasury stock activity (163)       (163)  
Balance at Dec. 31, 2024 4,666 1 2,045 5,097 (2,449) (28)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net earnings (loss) 605     605    
Dividends declared (213)     (213)    
Stock compensation 40   42 (2)    
Other comprehensive income (loss), net of tax (25)         (25)
Balance at Dec. 31, 2025 $ 5,073 $ 1 $ 2,087 $ 5,487 $ (2,449) $ (53)
v3.25.4
Consolidated Statements of Changes in Equity (Parenthetical) - $ / shares
 3 Months Ended 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Stockholders' Equity [Abstract]              
Dividends declared per share $ 1.38 $ 1.35 $ 1.30 $ 1.24 $ 5.43 $ 5.25 $ 5.02
v3.25.4
Description of Business
 12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Description of Business DESCRIPTION OF BUSINESS
Huntington Ingalls Industries, Inc. ("HII" or the "Company") 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. HII is organized into three reportable segments: Ingalls Shipbuilding ("Ingalls"), Newport News Shipbuilding ("Newport News"), and Mission Technologies. 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, making HII America’s largest shipbuilder. The Mission Technologies segment develops integrated technology solutions and products that enable today's connected, all-domain force.
v3.25.4
Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Summary of Signifcant Accounting Policies SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Principles of Consolidation - The consolidated financial statements of HII and its subsidiaries have been prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP") and the instructions to Form 10-K promulgated by the Securities and Exchange Commission ("SEC"). As used in the Notes to the Consolidated Financial Statements, the terms "HII" and "the Company" refer to HII and its subsidiaries. All intercompany transactions and balances are eliminated in consolidation. For classification of current assets and liabilities related to its long-term production contracts, the Company uses the duration of these contracts as its operating cycle, which is generally longer than one year. Additionally, certain prior year amounts have been reclassified to conform to the current year presentation.

Accounting Estimates - The preparation of the Company's 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.

Revenue Recognition - Most of the Company's revenues are derived from long-term contracts for the production of goods and services provided to its U.S. Government customers. The Company generally recognizes revenues on contracts with U.S. Government customers over time using a cost-to-cost measure of progress. The use of the cost-to-cost method to measure performance progress over time is supported by clauses in the related contracts that allow the customer to unilaterally terminate the contract for convenience, pay the Company for costs incurred plus a reasonable profit, and take control of any work in process. The Company utilizes the cost-to-cost method to measure performance progress because it best reflects the continuous transfer of control of the related goods and services to the customer as the Company satisfies its performance obligations.

When the customer is not a U.S. Government entity, the Company may recognize revenue over time or at a point in time when control transfers upon delivery, depending upon the facts and circumstances of the related arrangement. When the Company determines that revenue should be recognized over time, the Company utilizes a measure of progress that best depicts the transfer of control of the relevant goods and services to the customer. Generally, the terms and conditions of the contracts result in a transfer of control of the related goods and services as the Company satisfies its performance obligations. Accordingly, the Company recognizes revenue over time using the cost-to-cost method to measure performance progress. The Company may, however, utilize a measure of progress other than cost-to-cost, such as a labor-based measure of progress, if the terms and conditions of the arrangement require such accounting.

When using the cost-to-cost method to measure performance progress, certain contracts may include costs that are not representative of performance progress, such as large upfront purchases of uninstalled materials, unexpected waste, or inefficiencies. In these cases, the Company adjusts its measure of progress to exclude such costs, with the goal of better reflecting the transfer of control of the related goods or services to the customer and recognizing revenue only to the extent of the costs incurred that reflect the Company's performance under the contract.
In addition, for time and material arrangements, the Company often utilizes the practical expedient allowing the recognition of revenue in the amount the Company has a right to invoice, which corresponds with the value provided to the customer and to which the Company is entitled to payment for performance to date.

A performance obligation is a promise to transfer a distinct good or service to the customer and is the unit of account for which revenue is recognized. To determine the proper revenue recognition method, consideration is given to whether two or more contracts should be combined and accounted for as one contract and whether a single contract consists of more than one performance obligation. For contracts with multiple performance obligations, the contract transaction price is allocated to each performance obligation using an estimate of the standalone selling price based upon expected cost plus a margin at contract inception, which is generally the price disclosed in the contract. Contracts are often modified to account for changes in contract specifications and requirements. Generally, modifications do not result in additional performance obligations that are distinct from the existing performance obligations in the contract, and the effects of the modifications are recognized as an adjustment to revenue on a cumulative catch-up basis. Alternatively, when the performance obligations in the modifications are deemed distinct, contract modifications are accounted for prospectively.

The amount of revenue recognized as the Company satisfies performance obligations associated with contracts with customers is based upon the determination of transaction price. Transaction price reflects the amount of consideration to which the Company expects to be entitled for performance under the terms and conditions of the contract. Transaction price may include fixed and variable components, including shareline incentive fees whereby the value of the contract is variable based upon the amount of costs incurred, as well as other incentive fees based upon achievement of contractual schedule commitments or other specified criteria in the contract. Shareline incentive fees are determined based upon the formula under the relevant contract using the Company’s estimated cost to complete for each period. The Company generally utilizes a most likely amount approach to estimate variable consideration. In all such instances, the estimated revenues represent those amounts for which the Company believes a significant reversal of revenue is not probable.

Contract Estimates - In estimating contract performance, the Company utilizes a profit-booking rate based upon performance expectations that takes into consideration a number of assumptions and estimates regarding risks related to technical requirements, feasibility, schedule, and contract costs. Management performs periodic reviews of the contracts to evaluate the underlying risks, which may increase the profit-booking rate as the Company is able to mitigate and retire such risks. Conversely, if the Company is not able to retire these risks, cost estimates may increase, resulting in a lower profit-booking rate.

The cost estimation process requires significant judgment based upon the professional knowledge and experience of the Company’s engineers, program managers, and financial professionals. Factors considered in estimating the work to be completed and ultimate contract recovery include the availability, productivity, and cost of labor, the nature and complexity of the work to be performed, the effect of change orders, the availability of materials, the effect of any performance delays, the availability and timing of funding from the customer, and the recoverability of any claims included in the estimates to complete.

Changes in estimates of sales, costs, and profits on a performance obligation are recognized using the cumulative catch-up method of accounting, which recognizes in the current period the cumulative effect of the changes in current and prior periods. A significant change in an estimate on one or more contracts in a period could have a material effect on the Company's consolidated financial position or results of operations for that period.

When estimates of total costs to be incurred exceed estimates of total revenue to be earned on a complex, construction-type contract or a performance obligation related to such a contract, a provision for the entire loss on the contract or the performance obligation is recognized in the period the loss is determined. The determination of whether the loss is identified at the contract or performance obligation level is an accounting policy election that is applied consistently to similar contract types.

Accounts Receivable - Accounts receivable include amounts related to any unconditional Company right to receive consideration and are presented as accounts receivable, net in the consolidated statements of financial position, separate from other contract balances. Accounts receivable are comprised of amounts billed and currently due from customers. The Company reports accounts receivable net of an allowance for expected credit losses. Because the Company's accounts receivable are primarily with the U.S. Government or with companies
acting as a contractor to the U.S. Government, the Company does not have material exposure to accounts receivable credit risk.

Contract Assets - Contract assets primarily relate to the Company’s right to consideration for work completed but not billed as of the reporting date when the right to payment is not subject only to the passage of time, including retention amounts. Contract assets are classified as current assets and, in accordance with industry practice, include amounts that may be billed and collected beyond one year due to the long-term nature of many of the Company's contracts. Contract assets are transferred to accounts receivable when the right to consideration becomes unconditional.

Contract Liabilities - Contract liabilities are comprised of advance payments, billings in excess of revenues, and deferred revenue amounts. Such advances are generally not considered a significant financing component, because they are utilized to pay for contract costs within a one-year period. Contract liability amounts are recognized as revenue once the requisite performance progress has occurred.

Inventoried Costs - Inventoried costs primarily relate to company-owned raw materials, which are stated at the lower of cost or net realizable value, generally using the average-cost method, and costs capitalized pursuant to applicable provisions of the Federal Acquisition Regulation ("FAR") and U.S. Cost Accounting Standards ("CAS"). Under the Company's U.S. Government contracts, the customer asserts title to, or a security interest in, inventories related to such contracts as a result of contract advances, performance-based payments, and progress payments. In accordance with industry practice, inventoried costs are classified as current assets and include amounts related to contracts having production cycles longer than one year.
Costs to Obtain or Fulfill a Contract - Costs to obtain a contract are incremental direct costs incurred to obtain a contract with a customer and are capitalized if material. Costs to fulfill a contract include costs directly related to a contract or a specific anticipated contract (for example, mobilization and set-up) that generate or enhance the Company's ability to satisfy its performance obligations under a contract. These costs are capitalized to the extent they are expected to be recovered from the associated contract. Capitalized costs to obtain or fulfill a contract are amortized to expense over the expected period of benefit. Costs to obtain or fulfill a contract are reported within prepaid expenses and other current assets on the consolidated statements of financial position and are not material as of December 31, 2025 and 2024.

Warranty Costs - Certain of the Company’s contracts contain assurance-type warranty provisions, which generally promise that the service or vessel will comply with agreed upon specifications. In such instances, the Company accrues the estimated loss by a charge to income in the relevant period. In limited circumstances, the Company's complex construction type contracts may provide the customer with an option to purchase a warranty or provide an extended assurance service coupled with the primary assurance warranty. In such cases, the Company accounts for the warranty as a separate performance obligation to the extent it is material within the context of the contract. Warranty liabilities are reported within other current liabilities and are not material as of December 31, 2025 and 2024.

Government Grants - The Company recognizes incentive grants, including transfers of depreciable assets, from federal, state, and local governments at fair value upon compliance with the conditions of their receipt and reasonable assurance that the grants will be received or the depreciable assets will be transferred. Grants related to specific expenses are recognized in the period in which the expenses are incurred as an offset to the related expenses. Grants related to depreciable assets are recognized over the periods and in the proportions in which depreciation expense on those assets is recognized. Government grants are reported within other current liabilities and other long term liabilities and are not material as of December 31, 2025 and 2024.

General and Administrative Expenses - In accordance with industry practice and regulations that govern the cost accounting requirements for government contracts, most general corporate expenses incurred at both the segment and corporate locations are allowable and allocable costs on government contracts. These costs are allocated to contracts in progress on a systematic basis, and contract performance factors include this as an element of cost.

General and administrative expenses also include certain other costs that do not affect segment operating income, primarily non-current state income taxes. Non-current state income taxes include deferred state income taxes, which reflect the change in deferred state tax assets and liabilities, and the tax expense or benefit associated with changes in state unrecognized tax benefits in the relevant period.
Research and Development - Company-sponsored research and development activities primarily include independent research and development ("IR&D") related to experimentation, design, development, and test activities for government programs. IR&D expenses are included in general and administrative expenses and are generally allocable to government contracts. Company-sponsored IR&D expenses totaled $26 million, $27 million, and $35 million for the years ended December 31, 2025, 2024, and 2023, respectively. Expenses for research and development sponsored by the customer are charged directly to the related contracts.

Fair Value of Financial Instruments - In measuring fair value, the use of observable inputs is required to be maximized, where available. The fair value hierarchy provides for three levels of inputs:

Level 1:    Quoted prices in active markets for identical assets and liabilities.

Level 2:    Observable inputs, other than Level 1 prices, such as: quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or that the Company corroborates with observable market data for substantially the full term of the related assets or liabilities.

Level 3:    Unobservable inputs supported by little or no market activity that are significant to the fair value of the assets and liabilities.

Except for the Company's long-term debt, the carrying amounts of the Company's financial instruments that are recorded at historical cost approximate fair value due to the short-term nature of the instruments and low credit risk associated with the respective counterparties.

The Company maintains multiple grantor trusts to fund certain non-qualified pension plans. These trusts were valued at $249 million and $233 million as of December 31, 2025 and 2024, respectively, and are presented within miscellaneous other assets on the consolidated statements of financial position. These trusts consist primarily of investments in marketable securities, which are held at fair value within Level 1 of the fair value hierarchy.

Asset Retirement Obligations - Asset decommissioning and/or remediation activities may be required when the Company ceases to utilize certain facilities. The Company records, within other current liabilities or other long-term liabilities as appropriate, all known asset retirement obligations for which the liability's fair value can be reasonably estimated, including certain asbestos removal, asset decommissioning, and lease restoration obligations. Asset retirement obligations for which the liability's fair value can be reasonably estimated are not material as of December 31, 2025 and 2024.

Income Taxes - Income tax expense and other related information are based on the prevailing statutory rates for U.S. federal income taxes and the composite state income tax rate for the Company for each period presented. Non-current state income taxes include deferred state income taxes, which reflect the change in deferred state tax assets and liabilities, and the tax expense or benefit associated with changes in state unrecognized tax benefits in the relevant period. These amounts are recorded within operating income, while the current period state income tax expense, which is generally allowable and allocable to contracts, is charged to contract costs and included in cost of sales and service revenues in segment operating income.

Deferred income taxes are recorded when revenues and expenses are recognized in different periods for financial statement purposes and for tax return purposes. Deferred tax asset or liability account balances are calculated at the balance sheet date using current tax laws and rates expected to be in effect when the deferred tax items reverse in future periods.

The Company recognizes deferred tax assets to the extent it believes these assets are more likely than not to be realized. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and recent results of operations. Based on the Company's evaluation of these deferred tax assets, valuation allowances of $25 million and $26 million were recognized as of December 31, 2025 and 2024, respectively.

Uncertain tax positions meeting the more-likely-than-not recognition threshold, based on the merits of the position, are recognized in the financial statements. The Company recognizes the amount of tax benefit that is more than 50% likely to be realized upon ultimate settlement with the related tax authority. If a tax position does not meet the minimum statutory threshold to avoid payment of penalties, the Company recognizes an expense for the amount of
the penalty in the period the tax position is claimed or expected to be claimed in its tax return. Penalties and accrued interest related to unrecognized tax benefits are recognized as a component of income tax expense. Changes in accruals associated with unrecognized tax benefits are recorded in earnings in the period in which they are determined.

Cash and Cash Equivalents - The carrying amounts of cash and cash equivalents approximate fair value due to the short-term nature of these assets, which have original maturity dates of 90 days or less.

Concentration Risk - The Company’s assets that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents. The Company places its cash and cash equivalents with reputable financial institutions and limits the amount of credit exposure with any one of them. The Company regularly evaluates the creditworthiness of these financial institutions and mitigates this credit risk by entering into transactions with high-quality counterparties, limiting the exposure to each counterparty, and monitoring the financial condition of its counterparties.

In connection with its U.S. Government contracts, the Company is required to procure certain raw materials, components, and parts from supply sources approved by the U.S. Government. Only one supplier may exist for certain components and parts required to manufacture the Company's products.

Property, Plant, and Equipment - Depreciable properties owned by the Company are recorded at cost and depreciated over the estimated useful lives of individual assets and asset classes. Major improvements are capitalized while expenditures for maintenance, repairs, and minor improvements are expensed. Costs incurred for computer software developed or purchased for internal use are capitalized and amortized over the expected useful life of the software, not to exceed nine years. Leasehold improvements are amortized over the shorter of their useful lives or the term of the lease.

The remaining assets are depreciated using the straight-line method, with the following lives:
Years
Land improvements2-40
Buildings and improvements2-60
Capitalized software costs3-9
Machinery and other equipment2-40

The Company evaluates the recoverability of its property, plant, and equipment when changes in economic circumstances or business objectives indicate the carrying value may not be recoverable. The Company's evaluations include estimated future cash flows, profitability, and other factors affecting fair value. As these assumptions and estimates may change over time, it may or may not be necessary to record impairment charges.

Cloud Computing Arrangements - Certain costs to implement cloud computing service arrangements hosted by third party vendors are capitalized when incurred during the application development stage. Implementation costs are subsequently amortized using the straight-line method over the expected term of the related cloud computing service arrangement, generally ten years or less. Capitalized implementation costs are reported net of accumulated amortization within miscellaneous other assets on the consolidated statements of financial position and are not material as of December 31, 2025 and 2024.

Leases - The Company determines if an arrangement is a lease at contract inception. A lease exists when a contract conveys to a party the right to control the use of identified property, plant, or equipment for a period of time in exchange for consideration. The Company recognizes a lease liability at the lease commencement date, as the present value of future lease payments, using an estimated rate of interest that the Company would pay to borrow equivalent funds over an equivalent term on a collateralized basis. A lease asset is recognized based on the lease liability value and adjusted for any prepaid lease payments, initial direct costs, or lease incentive amounts. The lease term at the commencement date includes any renewal options or termination options when it is reasonably certain that the Company will exercise or not exercise those options, respectively.

Right of use assets associated with operating leases are recognized in operating lease assets in the consolidated statements of financial position. Lease liabilities associated with operating leases are recognized in long-term operating lease liabilities, with short-term lease liability amounts included in other current liabilities in the
consolidated statements of financial position. Right of use assets associated with finance leases are included in miscellaneous other assets in the consolidated statements of financial position. Finance lease liabilities are included in the current portion of long-term debt and long-term debt in the consolidated statements of financial position.

Rent expense for operating leases is recognized on a straight-line basis over the lease term and included in cost of sales and service revenues in the consolidated statements of operations and comprehensive income. Variable lease payments are generally recognized to expense as incurred and are not included in the right of use assets or lease liabilities.

The Company elected, for all asset classes, to exclude from its consolidated statements of financial position leases having terms of 12 months or less (short-term leases) and elected not to separate lease and non-lease components in the determination of lease payment obligations for its long-term lease contracts.

Goodwill and Other Intangible Assets - The Company performs impairment tests for goodwill annually as of October 31 and between annual impairment tests if an event occurs or circumstances of potential impairment exist that would more likely than not reduce the fair values of the Company's reporting units below their carrying values. The Company's reporting units are aligned with its operating segments. The Company assesses qualitative factors to determine whether it is more likely than not that the fair value of the goodwill allocated to the reporting unit is less than its carrying amount. If the qualitative assessment indicates a possible impairment, the carrying value of the reporting unit is compared to its fair value, which is determined using a combination of discounted cash flow analysis and comparative market multiples. If the fair value is determined to be less than the carrying value, the Company records an impairment charge to the reporting unit.

The Company evaluates the recoverability of its intangible long-lived assets when changes in economic circumstances or business objectives indicate the carrying value may not be recoverable. The Company's purchased intangible assets are amortized on a straight-line basis or a method based on the pattern of benefits over their estimated useful lives.

Equity Method Investments - Investments in which the Company has the ability to exercise significant influence over the investee, but does not own a majority interest or otherwise control, are accounted for under the equity method of accounting and are included in miscellaneous other assets in the consolidated statements of financial position. The Company's equity method investments align strategically and are integrated with the Company's operations. Accordingly, the Company's share of the net earnings or losses of the investee is included in income from operating investments, net within the consolidated statements of operations and comprehensive income. The Company evaluates its equity method investments for other than temporary impairment whenever events or changes in business circumstances indicate that the carrying amounts of such investments may not be fully recoverable. If a decline in the value of an equity method investment is determined to be other than temporary, a loss is recorded in earnings in the current period.

In 2021, the Company contributed its San Diego Shipyard business to a joint venture, Titan Acquisition Holdings, L.P. ("Titan"), in exchange for a 10% non-controlling interest, which was recorded under the equity method of accounting. In 2023, the Company sold its investment in Titan. For the year ended December 31, 2023, the Company received $63 million in proceeds and recognized an immaterial loss on sale.

Self-Insured Group Medical Insurance - The Company maintains a self-insured group medical insurance plan. The plan is designed to provide a specified level of coverage for employees and their dependents. Estimated liabilities for incurred but not paid claims utilize actuarial methods based on various assumptions, which include, but are not limited to, HII's historical loss experience and projected loss development factors. These liabilities are recorded in other current liabilities on the consolidated statements of financial position and are not material as of December 31, 2025 and 2024.

Self-Insured Workers' Compensation Plan - The Company's operations are subject to federal and state workers' compensation laws. The Company maintains self-insured workers' compensation plans and participates in federally administered second injury workers' compensation funds. The Company estimates the liability for claims and funding requirements on a discounted basis utilizing actuarial methods based on various assumptions, which include, but are not limited to, the Company's historical loss experience and projected loss development factors as compiled in an annual actuarial study. Self-insurance accruals include amounts related to liabilities for reported claims and an estimated accrual for claims incurred but not reported. The Company's workers' compensation liability
was discounted at 4.09% and 4.58% as of December 31, 2025 and 2024, respectively. These discount rates were determined using a risk-free rate based on future payment streams. Workers' compensation benefit obligations on an undiscounted basis were $778 million and $780 million as of December 31, 2025 and 2024, respectively.

Litigation, Commitments, and Contingencies - Amounts associated with litigation, commitments, and contingencies are recorded as charges to earnings when management, after taking into consideration the facts and circumstances of each matter, including any settlement offers and projected loss or claim development factors, has determined it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated.

Loan Receivable - The Company holds a loan receivable in connection with the financing of the sale of its previously owned Avondale Shipyard facility. The loan receivable is reported at amortized cost, net of loan discount, and approximates fair value. The current and non-current portions of the loan receivable are reported in prepaid expenses and other current assets and miscellaneous other assets on the consolidated statements of financial position, respectively. The loan receivable is not material for the years ended December 31, 2025 and 2024.

Interest income is recognized on an accrual basis using the effective yield method and reported within other, net on the consolidated statements of operations and comprehensive income and is not material for the years ended December 31, 2025, 2024, and 2023. The discount is accreted into income using the effective yield method over the estimated life of the loan receivable.

Retirement Related Benefit Plans - The Company accounts for its retirement related benefit plans on the accrual basis. The measurements of obligations, costs, assets, and liabilities require significant judgment. The costs of benefits provided by defined benefit pension plans are recorded in the period participating employees provide service. The costs of benefits provided by other postretirement benefit plans are recorded in the period participating employees attain full eligibility. The discount rate assumption is defined under GAAP as the rate at which a plan's obligation could be effectively settled. A discount rate is established for each of the retirement related benefit plans at its respective measurement date.

The expected return on plan assets component of retirement related costs is used to calculate net periodic expense, based on such factors as historical returns, targeted asset allocations, investment policy, duration, expected future long-term performance of individual asset classes, interest rates, inflation, portfolio volatility, investment management and administrative fees, and risk management strategies. Historical plan asset performance alone has inherent limitations in predicting future returns. While studies are helpful in understanding past and current trends and performance, the rate of return assumption is based more on long-term prospective views to avoid short-term market influences. Unless plan assets and benefit obligations are subject to re-measurement during the year, the expected return on plan assets is based on the fair value of plan assets at the beginning of the year.

The costs of plan amendments that provide benefits already earned by plan participants (prior service costs and credits) are deferred in accumulated other comprehensive loss and amortized over the expected future service period of active participants as of the date of amendment. Actuarial gains and losses arising from differences between assumptions and actual experience or changes in assumptions are deferred in accumulated other comprehensive loss. This unrecognized amount is amortized to the extent it exceeds 10% of the greater of the plan's benefit obligation or plan assets. The amortization period for actuarial gains and losses is the estimated remaining service life of the plan participants.

The Company recognizes the funded status of each retirement related benefit plan as an asset or liability in its consolidated statements of financial position. The funded status represents the difference between the plan's benefit obligation and the fair value of the plan's assets. Unrecognized deferred amounts, such as demographic or asset gains or losses and the impacts of plan amendments, are included in accumulated other comprehensive loss and amortized as described above.

Stock Compensation - The fair value of stock-based compensation is measured based on the closing market price of the Company's common stock on the grant date. Compensation expense for stock awards is measured based on the grant date fair value and recognized over the vesting period, generally three years. For purposes of measuring compensation expense, the number of shares ultimately expected to vest is estimated at each reporting date based on the Company's expectations regarding the relevant service or performance criteria.
v3.25.4
Accounting Standards Updates
 12 Months Ended
Dec. 31, 2025
Accounting Standards Update and Change in Accounting Principle [Abstract]  
Accounting Standards Updates ACCOUNTING STANDARDS UPDATES
Recently Adopted Guidance

There were no new Accounting Standards Updates (“ASU”) adopted during the year ended December 31, 2025 that had a material impact on the Company’s consolidated financial statements.

Accounting Guidance Issued But Not Adopted as of December 31, 2025

In November 2024, the Financial Accounting Standards Board ("FASB") issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. The new guidance requires, among other things, tabular and qualitative disclosure of disaggregated expense information that is included in certain expense line items presented on the consolidated statement of operations. The new guidance also requires that the total amount and definition of selling expenses be disclosed. The new guidance is effective on a prospective basis for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027, with early adoption and retrospective application permitted. The Company is currently evaluating the impacts of the new guidance on its consolidated financial statements.

In September 2025, the FASB issued ASU 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. Among other targeted improvements, the new guidance amends existing software cost capitalization guidance by removing all references to software project development stages and providing criteria that clarify the threshold for software cost capitalization to begin. The new guidance is effective for annual reporting periods beginning after December 15, 2027, and interim reporting periods within those annual reporting periods, with early adoption permitted. The new guidance may be applied on a prospective basis, retrospective basis, or modified basis for in-process projects. The Company is currently evaluating the impacts of the new guidance on its consolidated financial statements.

In December 2025, the FASB issued ASU 2025-10, Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities. The new standard establishes authoritative guidance for the recognition, measurement, and presentation of a grant received by a business entity from a government, including guidance for a grant related to an asset and a grant related to income. The new guidance also amends certain existing disclosure requirements for government assistance provided to business entities. The new guidance is effective for annual reporting periods beginning after December 15, 2028, and interim reporting periods within those annual reporting periods, with early adoption permitted. The new guidance may be applied on a modified prospective basis, modified retrospective basis, or full retrospective basis. The Company is currently evaluating the impacts of the new guidance on its consolidated financial statements.

Other accounting pronouncements issued but not effective until after December 31, 2025, are not expected to have a material impact on the Company's consolidated financial position, results of operations, or cash flows.
v3.25.4
Acquisitions
 12 Months Ended
Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Acquisitions ACQUISITIONS
In January 2025, the Company acquired substantially all of the assets of W International SC, LLC and Vivid Empire SC, LLC (collectively “W International”), a South Carolina-based complex metal fabricator specializing in the manufacture of shipbuilding structures, modules, and assemblies, for a purchase price of $132 million. The acquired manufacturing facility expands the Company’s shipbuilding capacity and operates within the Newport News segment. The transaction closed using cash on hand and qualifies as a business combination under FASB Accounting Standards Codification ("ASC") Topic 805 – "Business Combinations."

The Company recognized $32 million of goodwill, which includes expected synergies and the value of W International’s acquired workforce, all of which was allocated to the Newport News segment and is tax deductible. There have been no other changes to the Company's goodwill since December 31, 2024. See Note 11: Goodwill and Other Intangible Assets.

The assets, liabilities, and results of operations of W International are not material to the Company’s consolidated financial position, results of operations, or cash flows.
v3.25.4
Stockholders' Equity
 12 Months Ended
Dec. 31, 2025
Stockholders' Equity Note [Abstract]  
Stockholders' Equity STOCKHOLDERS' EQUITY
Common Stock - Changes in the number of Company outstanding shares for the year ended December 31, 2025, resulted from share activity under its stock compensation plans. See Note 18: Stock Compensation Plans.

Treasury Stock - In January 2024, the Company's board of directors authorized an increase in the Company's stock repurchase program from $3.2 billion to $3.8 billion and an extension of the term of the program to December 31, 2028. Repurchases are made from time to time at management's discretion in accordance with applicable federal securities laws. For the year ended December 31, 2025, the Company did not repurchase any shares. For the year ended December 31, 2024, the Company repurchased 607,841 shares at an aggregate cost of $163 million, including $1 million of accrued excise tax. For the year ended December 31, 2023, the Company repurchased 337,007 shares at an aggregate cost of $75 million. The cost of purchased shares is recorded as treasury stock in the consolidated statements of financial position.

Dividends - In November 2025, the Company's board of directors authorized an increase in the Company's quarterly cash dividend from $1.35 per share to $1.38 per share. In November 2024, the Company's board of directors authorized an increase in the Company's quarterly cash dividend from $1.30 per share to $1.35 per share. In November 2023, the Company's board of directors authorized an increase in the Company's quarterly cash dividend from $1.24 per share to $1.30 per share. The Company paid cash dividends totaling $213 million ($5.43 per share), $206 million ($5.25 per share), and $200 million ($5.02 per share) in the years ended December 31, 2025, 2024, and 2023, respectively.

Accumulated Other Comprehensive Loss - Other comprehensive income (loss) refers to gains and losses recorded as an element of stockholders' equity but excluded from net earnings. The accumulated other comprehensive loss was comprised of unamortized benefit plan costs of $53 million and $28 million as of December 31, 2025 and 2024, respectively.
The changes in accumulated other comprehensive loss by component for the years ended December 31, 2025, 2024, and 2023, were as follows:
($ in millions)Benefit PlansTotal
Balance as of December 31, 2022$(599)$(599)
Other comprehensive income before reclassifications221 221 
Amounts reclassified from accumulated other comprehensive loss
Amortization of prior service cost(1)
15 15 
Amortization of net actuarial loss(1)
2 2 
Tax expense for items of other comprehensive income(61)(61)
Net current period other comprehensive income177 177 
Balance as of December 31, 2023(422)(422)
Other comprehensive income before reclassifications509 509 
Amounts reclassified from accumulated other comprehensive loss
Amortization of prior service cost(1)
14 14 
Amortization of net actuarial loss(1)
5 5 
Tax expense for items of other comprehensive income(134)(134)
Net current period other comprehensive income394 394 
Balance as of December 31, 2024(28)(28)
Other comprehensive loss before reclassifications(37)(37)
Amounts reclassified from accumulated other comprehensive loss
Amortization of prior service cost(1)
16 16 
Amortization of net actuarial gain(1)
(12)(12)
Tax benefit for items of other comprehensive loss8 8 
Net current period other comprehensive loss(25)(25)
Balance as of December 31, 2025$(53)$(53)
(1) These accumulated comprehensive loss components are included in the computation of net periodic benefit cost. See Note 17: Employee Pension and Other Postretirement Benefits. The tax expense recorded in stockholders' equity for the amounts reclassified from accumulated other comprehensive loss for the years ended December 31, 2025, 2024, and 2023, was $1 million, $5 million, and $4 million, respectively.
v3.25.4
Earnings Per Share
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Earnings Per Share EARNINGS PER SHARE
Basic and diluted earnings per common share were calculated as follows:
 Year Ended December 31
(in millions, except per share amounts)202520242023
Net earnings$605 $550 $681 
Weighted-average common shares outstanding39.3 39.4 39.9 
Net effect of dilutive stock options and awards— — — 
Dilutive weighted-average common shares outstanding39.3 39.4 39.9 
Earnings per share - basic$15.39 $13.96 $17.07 
Earnings per share - diluted$15.39 $13.96 $17.07 

The Company's calculation of diluted earnings per common share includes the dilutive effects of the assumed exercise of stock options and vesting of restricted stock based on the treasury stock method. Under the treasury stock method, the Company has excluded from the diluted share amounts presented above the effects of 0.4 million Restricted Performance Stock Rights ("RPSRs") and 0.1 million Restricted Stock Rights ("RSRs") for each of the years ended December 31, 2025 and 2024, and 0.4 million RPSRs for the year ended December 31, 2023.
v3.25.4
Revenue
 12 Months Ended
Dec. 31, 2025
Disaggregation of Revenue [Abstract]  
Revenue from Contract with Customer REVENUE
The following is a description of principal activities from which the Company generates its revenues. For more detailed information regarding reportable segments, see Note 8: Segment Information. For more detailed information regarding the Company's accounting policy for revenue, see Note 2: Summary of Significant Accounting Policies.

U.S. Government Contracts

The Ingalls and Newport News segments generate revenue primarily from performance under multi-year contracts with the U.S. Government, generally the U.S. Navy and U.S. Coast Guard, or prime contractors to contracts with the U.S. Government, relating to the advance planning, design, construction, repair, maintenance, refueling, overhaul, or inactivation of nuclear-powered ships and non-nuclear ships. The period over which the Company performs may extend past five years. The Mission Technologies segment also generates the majority of its revenue from contracts with the U.S. Government, including U.S. Government agencies. The Company generally invoices and receives related payments based upon performance progress no less frequently than monthly.

Shipbuilding - For most of the Company's shipbuilding contracts, the customer contracts with the Company to provide a comprehensive service of designing, procuring long-lead-time materials, manufacturing, and integrating complex equipment and technologies into a single ship or project, often resulting in a single performance obligation. Contract modifications to account for changes in specifications and requirements are recognized when approved by the customer. In the majority of circumstances, modifications do not result in additional performance obligations that are distinct from the existing performance obligations in the contract, and the effects of the modifications are recognized as an adjustment to revenue on a cumulative catch-up basis. Alternatively, in instances in which the performance obligations in the modifications are deemed distinct, contract modifications are accounted for prospectively.

The Company’s multi-year shipbuilding contracts with the U.S. Government are routinely modified as the result of unpriced change orders arising in the ordinary course of business. These anticipated changes are accounted for as contract modifications when the scope of the work has been approved and it is probable that the price will be approved. The Company recognizes variable consideration included in the transaction price for a modified contract to the extent the Company believes a significant reversal of revenue is not probable.

The Company considers incentive and award fees to be variable consideration and includes in the transaction price at inception the consideration to which the Company expects to be entitled under the terms and conditions of the contract, generally estimated using a most likely amount approach. Estimated revenues represent those amounts for which the Company believes a significant reversal of revenue is not probable.

The Company recognizes revenues related to shipbuilding contracts as it satisfies the related performance obligations over time using a cost-to-cost input method to measure performance progress, which best reflects the transfer of control to the customer.

Services - The Mission Technologies segment generates revenue primarily under U.S. Government contracts. Contracts generally are structured using either an Indefinite Delivery/Indefinite Quantity ("IDIQ") vehicle, under which orders are issued, or a standalone contract. Contracts may be fixed-price or cost-type, include variable consideration such as incentives and awards, and structured as task orders under an IDIQ contract vehicle or requirements contract vehicle. In either case, the Company generally performs services over a shorter duration and may continue to perform upon exercise of related period of performance options that are also shorter in duration. The Company’s performance obligations vary in nature and may be stand-ready, in which case the Company responds to the customer’s needs on the basis of its demand, a recurring service, typically recurring maintenance services, or a single performance obligation that does not comprise a series of distinct services.

In determining transaction price, the Company considers incentives and other contingencies to be variable consideration and includes in the initial transaction price the consideration to which the Company expects to be entitled under the terms and conditions of the contract, generally estimated using a most likely amount approach. Transaction price is limited to the extent of funding allotted by the customer and available for performance, and estimated revenues represent those amounts for which the Company believes a significant reversal of revenue is not probable. Where a series of distinct services has been identified, the Company generally allocates variable consideration to distinct time increments of service.
The Company generally recognizes revenue as it satisfies the related performance obligations over time using a cost-to-cost input method to measure performance progress, because, even when the Company has identified a series of services, its cost incurrence pattern generally is not ratable given the complex nature of the services the Company provides. Invoices are issued and related payments are received, on the basis of performance progress, no less frequently than monthly. In addition, many of the Company's U.S. Government services contracts are time and material arrangements. As a result, the Company often utilizes the practical expedient allowing the recognition of revenue in the amount the Company has a right to invoice, which corresponds with the value provided to the customer and to which the Company is entitled to payment for performance to date.

Non-U.S. Government Contracts

Revenues generated under commercial and state and local government agency contracts are primarily derived from the provision of nuclear and environmental services. Non-U.S. Government contracts typically are one or two years in duration.

In determining transaction price, the Company considers incentives and other contingencies to be variable consideration and includes in the initial transaction price the consideration to which the Company expects to be entitled under the terms and conditions of the contract, generally estimated using a most likely amount approach. In the context of variable consideration, the Company limits the transaction price to amounts for which the Company believes a significant reversal of revenue is not probable. Such amounts may relate to transaction price in excess of funding, a lack of history with the customer, a lack of history with the goods or services being provided, or other items.

Revenue generally is recognized over time given the terms and conditions of the related contracts. The Company generally utilizes a cost-to-cost input method to measure performance progress, which best reflects the transfer of control to the customer. The Company’s non-U.S. Government contract portfolio is comprised of a large number of time and material arrangements. As a result, the Company often utilizes the practical expedient allowing the recognition of revenue in the amount the Company has a right to invoice, which corresponds with the value provided to the customer and to which the Company is entitled to payment for performance to date.

Disaggregation of Revenue

The following tables present revenues on a disaggregated basis, in a manner that reconciles with the Company's reportable segment disclosures, for the following categories: product versus service type, customer type, contract type, and major program. The Company believes that this level of disaggregation provides investors with information to evaluate the Company’s financial performance and provides the Company with information to make capital allocation decisions in the most appropriate manner.
The following tables present revenues on a disaggregated basis:
Year Ended December 31, 2025
($ in millions)IngallsNewport NewsMission TechnologiesIntersegment EliminationsTotal
Revenue Type
Product sales$2,597 $5,397 $139 $— $8,133 
Service revenues469 1,109 2,773 — 4,351 
Intersegment12 1 132 (145)— 
Sales and service revenues$3,078 $6,507 $3,044 $(145)$12,484 
Customer Type
Federal$3,066 $6,505 $2,899 $— $12,470 
Commercial— 1 12 — 13 
State and local government agencies— — 1 — 1 
Intersegment12 1 132 (145)— 
Sales and service revenues$3,078 $6,507 $3,044 $(145)$12,484 
Contract Type
Firm fixed-price$17 $5 $411 $— $433 
Fixed-price incentive2,581 3,122 4 — 5,707 
Cost-type468 3,379 2,350 — 6,197 
Time and materials— — 147 — 147 
Intersegment12 1 132 (145)— 
Sales and service revenues$3,078 $6,507 $3,044 $(145)$12,484 

Year Ended December 31, 2024
($ in millions)IngallsNewport NewsMission TechnologiesIntersegment EliminationsTotal
Revenue Type
Product sales$2,424 $4,921 $119 $— $7,464 
Service revenues335 1,045 2,691 — 4,071 
Intersegment8 3 127 (138)— 
Sales and service revenues$2,767 $5,969 $2,937 $(138)$11,535 
Customer Type
Federal$2,759 $5,964 $2,804 $— $11,527 
Commercial— 2 5 — 7 
State and local government agencies— — 1 — 1 
Intersegment8 3 127 (138)— 
Sales and service revenues$2,767 $5,969 $2,937 $(138)$11,535 
Contract Type
Firm fixed-price$7 $7 $343 $— $357 
Fixed-price incentive2,417 3,127 9 — 5,553 
Cost-type335 2,832 2,281 — 5,448 
Time and materials— — 177 — 177 
Intersegment8 3 127 (138)— 
Sales and service revenues$2,767 $5,969 $2,937 $(138)$11,535 
Year Ended December 31, 2023
($ in millions)IngallsNewport NewsMission TechnologiesIntersegment EliminationsTotal
Revenue Type
Product sales$2,495 $5,053 $116 $— $7,664 
Service revenues248 1,077 2,465 — 3,790 
Intersegment9 3 118 (130)— 
Sales and service revenues$2,752 $6,133 $2,699 $(130)$11,454 
Customer Type
Federal$2,743 $6,129 $2,558 $— $11,430 
Commercial— 1 22 — 23 
State and local government agencies— — 1 — 1 
Intersegment9 3 118 (130)— 
Sales and service revenues$2,752 $6,133 $2,699 $(130)$11,454 
Contract Type
Firm fixed-price$2 $4 $322 $— $328 
Fixed-price incentive2,497 3,364 6 — 5,867 
Cost-type244 2,762 2,039 — 5,045 
Time and materials— — 214 — 214 
Intersegment9 3 118 (130)— 
Sales and service revenues$2,752 $6,133 $2,699 $(130)$11,454 

Year Ended December 31
($ in millions)202520242023
Major Programs
Amphibious assault ships$1,464 $1,426 $1,511 
Surface combatants and coast guard cutters1,596 1,330 1,225 
Other18 11 16 
Total Ingalls3,078 2,767 2,752 
Aircraft carriers3,390 3,239 3,374 
Submarines2,540 2,206 2,161 
Other577 524 598 
Total Newport News6,507 5,969 6,133 
All-domain operations and warfare systems2,011 1,957 1,717 
Global security, unmanned systems, and other1,033 980 982 
Total Mission Technologies3,044 2,937 2,699 
Intersegment eliminations(145)(138)(130)
Sales and service revenues$12,484 $11,535 $11,454 

As of December 31, 2025, the Company had $53.1 billion of remaining performance obligations. The Company expects to recognize approximately 21% of its remaining performance obligations as revenue through 2026, an additional 35% through 2028, and the balance thereafter.
Cumulative Catch-up Revenue Adjustments

The following table presents the effect of net cumulative catch-up revenue adjustments on operating income and diluted earnings per share:
Year Ended December 31
($ in millions, except per share amounts)202520242023
Effect on operating income$(28)$(126)$118 
Effect on diluted earnings per share$(0.55)$(2.51)$2.33 

For each of the years ended December 31, 2025, 2024, and 2023, no individual favorable cumulative catch-up revenue adjustment was material to the Company's consolidated statements of operations and comprehensive income.

For the year ended December 31, 2025, cumulative catch-up revenue adjustments included an unfavorable adjustment of $71 million on the construction of Enterprise (CVN 80) and Doris Miller (CVN 81) at the Company's Newport News segment. For each of the years ended December 31, 2024 and 2023, no individual unfavorable cumulative catch-up revenue adjustment was material to the Company's consolidated statements of operations and comprehensive income.

The Company’s Newport News segment continues to experience performance challenges in the construction of aircraft carriers and the Virginia class (SSN 774) submarine program. For the year ended December 31, 2025, cumulative catch-up revenue adjustments included significant unfavorable performance adjustments on the construction of aircraft carriers and Virginia class (SSN 774) submarines, which were offset by contract incentives.

Contract Balances

Contract assets include retention amounts, substantially all of which were under U.S. Government contracts, and were comprised of the following:
December 31
($ in millions)20252024
Due from U.S. Government$1,723 $1,638 
Due from other customers35 45 
Total contract assets$1,758 $1,683 

The Company reports contract balances in a net contract asset or contract liability position on a contract-by-contract basis at the end of each reporting period. Net contract assets were comprised as follows:
December 31
($ in millions)20252024
Contract assets$1,758 $1,683 
Contract liabilities1,220 774 
Net contract assets$538 $909 
The Company recognized revenue related to its prior year-end contract liabilities of $619 million, $938 million, and $690 million for the years ended December 31, 2025, 2024, and 2023, respectively.
v3.25.4
Segment Information
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment Information SEGMENT INFORMATION
The Company is organized into three operating segments, which are also its reportable segments: Ingalls, Newport News, and Mission Technologies, consistent with HII’s principal lines of business. Ingalls includes the Company’s non-nuclear ship design, construction, repair, and maintenance businesses. Newport News includes all of the Company’s nuclear ship design, construction, overhaul, refueling, and repair and maintenance businesses. The 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; unmanned autonomous systems; live, virtual, and constructive training solutions; platform modernization; and critical nuclear operations.

The Company’s operations are managed by senior executives reporting to the Company’s President and Chief Executive Officer, the chief operating decision maker, who regularly reviews the reportable segments’ operating results to assess performance and allocate resources.

The Company internally manages operations by reference to segment operating income, which is defined as operating income before the Operating FAS/CAS Adjustment and non-current state income taxes, neither of which affects contract performance. In evaluating operating performance, the chief operating decision maker looks primarily at changes in sales and service revenues, as well as segment operating income. This approach is consistent with the long-term life cycle of the Company’s contracts, as management assesses the bidding of each contract by focusing on net sales and operating profit and monitors performance in a similar manner through contract completion.

The Operating FAS/CAS Adjustment represents the difference between the service cost component of the Company's pension and other postretirement benefit plan expense determined in accordance with GAAP ("FAS") and the Company's pension and other postretirement expense under CAS.

U.S. Government Sales - Revenues from the U.S. Government include revenues from contracts for which HII is the prime contractor, as well as contracts for which the Company is a subcontractor and the ultimate customer is the U.S. Government. The Company derived substantially all of its revenues from the U.S. Government for each of the years ended December 31, 2025, 2024, and 2023.

Assets - Substantially all of the Company's assets are located or maintained in the United States.

Results of Operations by Segment

The following tables present the Company's operating results by segment:
Year Ended December 31, 2025
($ in millions)IngallsNewport NewsMission TechnologiesIntersegment EliminationsTotal
Sales and Service Revenues
Product sales$2,597 $5,397 $139 $— $8,133 
Service revenues469 1,109 2,773 — 4,351 
Intersegment12 1 132 (145)— 
Total sales and service revenues3,078 6,507 3,044 (145)12,484 
Segment Operating Income
Income from operating investments, net— — 46 — 46 
Other income and gains, net— 1 2 — 3 
Less:
Cost of sales and service revenues
Product2,258 4,685 109 — 7,052 
Service409 931 2,472 — 3,812 
Intersegment12 1 132 (145)— 
Other segment items166 560 226 — 952 
Total segment operating income$233 $331 $153 $— $717 
Non-segment factors affecting operating income
Operating FAS/CAS Adjustment(35)
Non-current state income taxes(25)
Total operating income$657 
Year Ended December 31, 2024
($ in millions)IngallsNewport NewsMission TechnologiesIntersegment EliminationsTotal
Sales and Service Revenues
Product sales$2,424 $4,921 $119 $— $7,464 
Service revenues335 1,045 2,691 — 4,071 
Intersegment8 3 127 (138)— 
Total sales and service revenues2,767 5,969 2,937 (138)11,535 
Segment Operating Income
Income from operating investments, net1 — 48 — 49 
Other income and gains, net— 10 (1)— 9 
Less:
Cost of sales and service revenues
Product2,070 4,276 102 — 6,448 
Service294 865 2,416 — 3,575 
Intersegment8 3 127 (138)— 
Other segment items185 589 223 — 997 
Total segment operating income$211 $246 $116 $— $573 
Non-segment factors affecting operating income
Operating FAS/CAS Adjustment(62)
Non-current state income taxes24 
Total operating income$535 

Year Ended December 31, 2023
($ in millions)IngallsNewport NewsMission TechnologiesIntersegment EliminationsTotal
Sales and Service Revenues
Product sales$2,495 $5,053 $116 $— $7,664 
Service revenues248 1,077 2,465 — 3,790 
Intersegment9 3 118 (130)— 
Total sales and service revenues2,752 6,133 2,699 (130)11,454 
Segment Operating Income
Income from operating investments, net— — 37 — 37 
Other income and gains, net71 — 49 — 120 
Less:
Cost of sales and service revenues
Product2,031 4,254 121 — 6,406 
Service207 900 2,223 — 3,330 
Intersegment9 3 118 (130)— 
Other segment items214 597 222 — 1,033 
Total segment operating income$362 $379 $101 $— $842 
Non-segment factors affecting operating income
Operating FAS/CAS Adjustment(72)
Non-current state income taxes11 
Total operating income$781 

Sales transactions between segments are generally recorded at cost.
Other segment items consist of general and administrative expenses.

Other Financial Information

The following tables present the Company's capital expenditures, as presented to the chief operating decision maker, and depreciation and amortization by segment:
Year Ended December 31
($ in millions)202520242023
Capital Expenditures(1)
Ingalls$74 $60 $65 
Newport News303 268 196 
Mission Technologies13 18 11 
Total segment capital expenditures390 346 272 
Corporate6 7 6 
Total capital expenditures$396 $353 $278 
(1) Net of grant proceeds for capital expenditures

Year Ended December 31
($ in millions)202520242023
Depreciation and Amortization
Ingalls$81 $78 $76 
Newport News141 136 150 
Mission Technologies103 110 120 
Total segment depreciation and amortization325 324 346 
Corporate4 2 1 
Total depreciation and amortization$329 $326 $347 

Asset information by segment is not disclosed because it is not a key measure of performance used by the chief operating decision maker.
v3.25.4
Accounts Receivable
 12 Months Ended
Dec. 31, 2025
Receivables [Abstract]  
Accounts Receivable, Net ACCOUNTS RECEIVABLE
Accounts receivable, net were comprised of the following:
December 31
($ in millions)20252024
Due from U.S. Government$331 $210 
Due from other customers10 4 
Total accounts receivable341 214 
Allowance for expected credit losses(2)(2)
Total accounts receivable, net$339 $212 

Substantially all amounts included in accounts receivable as of December 31, 2025, are expected to be collected in 2026.
v3.25.4
Inventoried Costs
 12 Months Ended
Dec. 31, 2025
Inventory Disclosure [Abstract]  
Inventoried Costs INVENTORIED COSTS
Inventoried costs are principally associated with contracts for which the U.S. government is the primary customer. As a result, the Company does not believe it has significant exposure to recoverability risk related to inventoried costs.
Inventoried costs were comprised of the following:
December 31
($ in millions)20252024
Production costs of contracts in process$23 $27 
Raw material inventory196 181 
Total inventoried costs$219 $208 
v3.25.4
Goodwill and Other Intangible Assets
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets GOODWILL AND OTHER INTANGIBLE ASSETS
Goodwill

In connection with the Company’s annual goodwill impairment test as of October 31, 2025, management tested goodwill for each of its three reporting units with goodwill balances. Based on the annual goodwill impairment analysis, the Company determined that the estimated fair values of all reporting units exceeded by more than 10% their corresponding carrying values as of October 31, 2025.

As of both December 31, 2025 and 2024, accumulated goodwill impairment losses were $2,755 million, comprised of $1,568 million and $1,187 million at Ingalls and Newport News, respectively.

For the years ended December 31, 2025 and 2024, the carrying amounts of goodwill were as follows:
($ in millions)IngallsNewport NewsMission TechnologiesTotal
Balance as of December 31, 2023$175 $721 $1,722 $2,618 
Adjustments— — — — 
Balance as of December 31, 2024175 721 1,722 2,618 
Acquisitions— 32 — 32 
Balance as of December 31, 2025$175 $753 $1,722 $2,650 

Other Intangible Assets

Net intangible assets consist primarily of amounts relating to acquired customer relationships and contract backlog within Mission Technologies, as well as nuclear-powered aircraft carrier and submarine program intangible assets within Newport News, with an aggregate weighted-average useful life of 28 years based on the long life cycle of the related programs. Amortization expense for the years ended December 31, 2025, 2024, and 2023, was $104 million, $109 million, and $128 million, respectively.

The Company expects amortization for currently recorded purchased intangible assets of $84 million in 2026, $62 million in 2027, $56 million in 2028, $50 million in 2029, and $41 million in 2030.
v3.25.4
Income Taxes
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes INCOME TAXES
Tax Reform - Public Law 119-21 (the "Act"), signed into law on July 4, 2025, provides for significant changes to the U.S. federal income tax law that impacts corporations, including making certain business deductions permanent, such as bonus depreciation, immediate expensing of domestic research and development ("R&D") expenditures, and providing an election to accelerate the deduction for the remaining unamortized domestic R&D expenditures capitalized during the 2022 through 2024 tax years. These unamortized expenditures can be deducted over one or two years. The Act contains other provisions that are not expected to have a material impact on the Company's consolidated financial position, results of operations, or cash flows.

The Company’s financial statements as of December 31, 2025 include the impact of the following significant items:

Domestic R&D expenditures: The Company recorded a current tax benefit of $115 million based on its intent to expense all current year domestic R&D expenditures and to accelerate the deduction for the remaining unamortized domestic R&D expenditures capitalized during the 2022 through 2024 tax years over a two-year period. This
resulted in an increase of approximately $115 million to the Company’s current income taxes receivable and a corresponding increase in its net deferred tax liability.

Bonus Depreciation: While the Company has not completed its analysis of all capital expenditures that may qualify for immediate expensing, the Company recorded an estimated current tax benefit of $16 million based on its intent to fully expense all qualified property acquired and placed into service after January 19, 2025. This resulted in an increase of approximately $16 million to the Company’s current income taxes receivable and a corresponding increase in its net deferred tax liability.

The Company's earnings are primarily domestic, and its effective tax rate on earnings from operations for the year ended December 31, 2025, was 22.1%, compared with 14.5% and 20.2% for 2024 and 2023, respectively.

For the year ended December 31, 2025, the Company's effective tax rate differed from the statutory federal corporate income tax rate primarily as a result of a decrease in the estimated R&D tax credits for the prior period. For the years ended December 31, 2024 and 2023, the Company's effective tax rate differed from the statutory federal corporate income tax rate primarily as a result of R&D tax credits.

Non-current state income taxes include deferred state income taxes, which reflect the change in deferred state tax assets and liabilities and the tax expense or benefit associated with changes in state unrecognized tax benefits in the relevant period. These amounts are recorded within operating income. Current period state income tax expense is charged to contract costs and included in cost of sales and service revenues in segment operating income. For the years ended December 31, 2025, 2024, and 2023, state income taxes in Virginia make up the majority of the state income tax expense.

Federal and foreign income tax expense for the years ended December 31, 2025, 2024, and 2023, consisted of the following:
Year Ended December 31
($ in millions)202520242023
Income Taxes on Operations
Federal and foreign income taxes currently payable (receivable)$(5)$193 $273 
Change in deferred federal and foreign income taxes177 (100)(101)
Total federal and foreign income taxes$172 $93 $172 

Earnings and income tax from foreign operations are not material for any periods presented.

The following table reconciles the Company's actual income tax expense to income tax expense based on the statutory federal corporate income tax rate:
Year Ended December 31
202520242023
($ in millions)DollarsPercentDollarsPercentDollarsPercent
U.S. federal statutory tax rate$163 21.0 %$135 21.0 %$179 21.0 %
Foreign tax effects— — %2 0.3 %— — %
Effect of cross-border tax laws(1)(0.2)%(3)(0.5)%(1)(0.1)%
Tax credits:
Research and development tax credit17 2.2 %(49)(7.6)%(22)(2.6)%
Other(4)(0.5)%(2)(0.3)%(2)(0.2)%
Nontaxable or nondeductible items7 0.9 %1 0.2 %6 0.7 %
Changes in unrecognized tax benefits— — %18 2.8 %10 1.2 %
Interest accrual on tax refunds(7)(0.9)%(8)(1.2)%(6)(0.7)%
Other adjustments(3)(0.4)%(1)(0.2)%8 0.9 %
Effective income tax rate$172 22.1 %$93 14.5 %$172 20.2 %
Cash paid for income taxes (net of refunds) consisted of the following:
December 31
($ in millions)202520242023
Federal$70 $182 $273 
State:
Virginia19 56 30 
Other7 17 26 
Total state26 73 56 
Foreign— — 1 
Cash paid for income taxes (net of refunds)$96 $255 $330 

Unrecognized Tax Benefits - Unrecognized tax benefits represent the gross value of the Company's uncertain tax positions that have not been reflected in the consolidated statements of operations and comprehensive income. If the income tax benefits from federal tax positions are ultimately realized, such realization would affect the Company's income tax expense, while the realization of state tax benefits would be recorded in general and administrative expenses.

The changes in unrecognized tax benefits (exclusive of interest and penalties) for the years ended December 31, 2025, 2024, and 2023 are summarized in the following table:
December 31
($ in millions)202520242023
Unrecognized tax benefits at beginning of the year$110 $98 $90 
Additions based on tax positions related to the current year5 13 11 
Additions based on tax positions related to prior years1 4 — 
Reductions based on tax positions related to prior years(7)— — 
Lapse of statute of limitations(4)(5)(3)
Net change in unrecognized tax benefits(5)12 8 
Unrecognized tax benefits at end of the year$105 $110 98 

Assuming sustainment of these positions, as of December 31, 2025, 2024, and 2023, the reversal of $86 million, $91 million, and $76 million, respectively, of the accrued amounts would favorably affect the Company's effective federal income tax rate in future periods.

The Company recognizes interest and penalties related to unrecognized tax benefits as income tax expense. As a result of the unrecognized tax benefits noted above, income tax expense increased by $6 million in 2025 for interest and penalties, resulting in an interest and penalty liability of $20 million as of December 31, 2025. In 2024, income tax expense increased $5 million for interest, resulting in an interest liability of $14 million as of December 31, 2024. In 2023, income tax expense increased $4 million for interest, resulting in an interest liability of $9 million as of December 31, 2023.
The following table summarizes the tax years that are either currently under examination or remain open under the applicable statute of limitations and subject to examination by the major tax jurisdictions in which the Company operates:
JurisdictionYears
United States - Federal(1)
2016-2024
Connecticut2022-2024
Mississippi2022-2024
Virginia2022-2024
(1) Returns for the 2016, 2018, 2019, 2021, and 2022 tax years were filed under the Compliance Assurance Process ("CAP") program and accepted by the Internal Revenue Service ("IRS") with the exception of the R&D tax credit. The 2017 tax year was also filed under the CAP program and was accepted by the IRS with the exception of the manufacturing deduction and the R&D tax credit. The 2023 tax year was filed under the CAP program and accepted by the IRS with the exception of the R&D tax credit and capitalized R&D expenses. The statute of limitations for the 2020 and 2021 tax years has been extended to June 30, 2027.

IRS Audits - The Company was part of the IRS CAP program for the 2014 through 2023 tax years. Tax years through 2015 have been closed with the IRS. In calendar years 2020, 2021, and 2022, the Company filed refund claims for the R&D tax credit for tax years 2016-2019. Since these are refund claims, any adjustments to the amount claimed would not result in cash tax payments to the IRS. In addition, the Company has claimed R&D tax credits on its original filed returns since 2020. The status of the pending R&D tax credits is provided below.

2016-2019 claims and 2020-2021 credits - The Company reached an administrative resolution with the IRS on the 2016-2019 R&D tax credit refund claims and the R&D tax credit for the 2020-2021 tax years. After the IRS administrative review of the agreement is completed, it will be submitted to the Joint Committee on Taxation for approval.

2022-2023 credits - The IRS initiated audits for the 2022 and 2023 tax years, with minimal activity to date. The 2022 audit is limited to the R&D tax credit. The 2023 audit is limited to the R&D tax credit and capitalized R&D expenses.

The Company believes that its unrecognized tax benefits are adequate and will cover the expected impact of the agreement with the IRS. While the Company believes it has adequately provided for all unrecognized tax benefits, the Company might ultimately settle any disputed item for amounts greater than or less than the Company's accrued position. Accordingly, additional provisions for federal and state income tax related matters could be recorded in the future, and may be material, as revised estimates are made or the underlying matters are effectively settled or otherwise resolved.

Deferred Income Taxes - Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and for income tax purposes. As described above, deferred tax assets and liabilities are calculated as of the balance sheet date using current tax laws and rates expected to be in effect when the deferred tax items reverse in future periods. Net deferred tax liabilities are classified as long-term deferred tax liabilities in the consolidated statements of financial position.
The tax effects of significant temporary differences and carry-forwards that resulted in year-end deferred tax balances, as presented in the consolidated statements of financial position, were as follows:
December 31
($ in millions)20252024
Deferred Tax Assets
Workers' compensation$154 $150 
Operating lease liabilities71 67 
Reserves not currently deductible for tax purposes72 71 
Stock compensation9 8 
Net operating losses, tax credit and other carry-forwards30 33 
Capitalized research and development expenses152 315 
Other15 11 
Gross deferred tax assets503 655 
Less valuation allowance25 26 
Net deferred tax assets478 629 
Deferred Tax Liabilities
Depreciation and amortization465 457 
Contract accounting differences57 47 
Purchased intangibles198 212 
Operating lease assets67 62 
Retirement benefits248 216 
Other15 13 
Gross deferred tax liabilities1,050 1,007 
Total net deferred tax liabilities$(572)$(378)

As of December 31, 2025, the Company had state income tax credit carry-forwards of approximately $14 million, which expire from 2026 through 2028. A deferred tax asset of approximately $11 million (net of federal benefit) related to these state income tax credit carry-forwards has been recorded, with a valuation allowance of $7 million against such deferred tax asset as of December 31, 2025. State net operating loss carry-forwards are individually and cumulatively immaterial to the Company’s deferred tax balances and expire from 2030 through 2044.
v3.25.4
Debt
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Debt DEBT
The Company's long-term debt consisted of the following:
December 31
($ in millions)20252024
Senior notes due May 1, 2025, 3.844%$— $500 
Senior notes due December 1, 2027, 3.483%600 600 
Senior notes due August 16, 2028, 2.043%600 600 
Senior notes due January 15, 2030, 5.353%500 500 
Senior notes due May 1, 2030, 4.200%500 500 
Senior notes due January 15, 2035, 5.749%500 500 
Gulf opportunity zone industrial development revenue bonds due December 1, 2028, 4.55%21 21 
Finance lease obligations— 9 
Less unamortized debt issuance costs(21)(27)
Total long-term debt$2,700 $3,203 
Less current portion— 503 
Long-term debt, net of current portion$2,700 $2,700 
Debt Facilities - In September 2024, the Company amended its existing $1.5 billion credit facility, increasing the capacity thereunder to $1.7 billion and extending the maturity date for five years from signing (the "Second Amended and Restated Revolving Credit Facility"). The Second Amended and Restated Revolving Credit Facility has a variable interest rate on outstanding borrowings based on the Secured Overnight Financing Rate ("SOFR") plus an interest spread, currently 1.475% based upon the Company's credit rating, which may vary between 1.225% and 2.100%. The commitment fee rate on the Second Amended and Restated Revolving Credit Facility as of December 31, 2025, was 0.200% and may vary between 0.125% and 0.300%. The Second Amended and Restated Revolving Credit Facility includes a letter of credit sub-facility of $300 million.

As of December 31, 2025, the Company had $11 million in issued but undrawn letters of credit and $1,689 million unutilized under the Second Amended and Restated Revolving Credit Facility. The Company had unamortized debt issuance costs associated with its debt facilities of $8 million and $10 million as of December 31, 2025 and 2024, respectively.

The Second Amended and Restated Revolving Credit Facility contains customary affirmative and negative covenants and events of default, as well as a financial covenant based on a maximum total leverage ratio.

In September 2024, the Company's borrowing capacity under its unsecured commercial paper note program increased from $1 billion to $1.7 billion. As of December 31, 2025, the Company had no outstanding debt under the commercial paper program.

Senior Notes - In May 2025, the Company repaid $500 million aggregate principal amount of its 3.844% senior notes upon their maturity. The repayment was funded using a combination of cash on hand and proceeds from the Company’s commercial paper program.

In November 2024, the Company issued $500 million aggregate principal amount of 5.353% senior notes due 2030 and $500 million aggregate principal amount of 5.749% senior notes due 2035. The net proceeds from these senior notes were used for general corporate purposes, including debt repayment (which included repayment of its 3.844% senior notes due 2025 and commercial paper borrowings) and working capital.

The terms of the Company's senior notes limit the Company’s ability and the ability of certain of its subsidiaries to create liens, enter into sale and leaseback transactions, sell assets, and effect consolidations or mergers. Interest on the senior notes is payable semiannually. The Company had unamortized debt issuance costs associated with the senior notes of $13 million and $17 million as of December 31, 2025 and 2024, respectively.

Interest on the Gulf Opportunity Zone Industrial Development Revenue Bonds is payable semiannually.

The agreements governing the Company's debt contain customary affirmative and negative covenants. The Company was in compliance with all debt covenants during the year ended December 31, 2025. Each of the Company's existing and future materially wholly owned domestic subsidiaries, except those that are specifically designated as unrestricted subsidiaries, are and will be guarantors under existing debt facilities, with the exception of the Gulf Opportunity Zone Industrial Development Revenue Bonds.

The estimated fair value of the Company's total long-term debt as of December 31, 2025, was $2,730 million. There was no current portion of long-term debt and no finance lease liabilities as of December 31, 2025. The estimated fair value of the Company's total long-term debt, including the current portion of long-term debt and excluding finance lease liabilities, as of December 31, 2024, was $3,110 million. The estimated fair value of the current portion of the Company's long-term debt, excluding finance lease liabilities, was $497 million as of December 31, 2024. The fair values of the Company's long-term debt were calculated based on recent trades of the Company's debt instruments in inactive markets, which fall within Level 2 under the fair value hierarchy.

As of December 31, 2025, the aggregate amounts of principal payments due on long-term debt within the next five years consisted of $600 million due in 2027, $621 million due in 2028, and $1 billion due in 2030.
v3.25.4
Investigations, Claims, And Litigation
 12 Months Ended
Dec. 31, 2025
Investigations, Claims, And Litigation [Abstract]  
Investigations, Claims, And Litigation INVESTIGATIONS, CLAIMS, AND LITIGATION
The Company is involved in legal proceedings before various courts and administrative agencies, and is periodically subject to government examinations, inquiries and investigations. The Company accrues for losses associated with legal proceedings when, and to the extent that, loss amounts related to the legal proceedings are probable and can
be reasonably estimated. The actual losses that might be incurred to resolve such legal proceedings may be higher or lower than the amounts accrued. The Company also provides footnote disclosure for matters for which a material loss is reasonably possible but a reserve has not been accrued because the likelihood of a material loss is not probable.

Antitrust Complaint - In October 2023, a class action antitrust lawsuit was filed against the Company and other defendants in the U.S. District Court for the Eastern District of Virginia. The lawsuit names several HII companies, among other companies, as defendants. The named plaintiffs generally allege that the defendant companies have adhered to a “gentlemen’s agreement” that prohibits any defendant from actively recruiting naval engineers from other defendants. The complaint seeks class certification, treble damages, and any other relief to which the plaintiffs are entitled. The District Court dismissed the lawsuit against all defendants in April 2024 on statute of limitations grounds without addressing the motions to dismiss filed by the defendants on other grounds. The Fourth Circuit Court of Appeals reversed the dismissal and remanded the case to the District Court for further proceedings. In November 2025, the District Court denied the defendants' remaining motions to dismiss the lawsuit. The Company cannot at this time predict or reasonably estimate the outcome of this matter.

Insurance Claims - In September 2020, the Company filed a complaint against 32 reinsurers in the Superior Court, State of Vermont, Franklin Unit, seeking a judgment declaring that the Company's business interruption and other losses associated with COVID-19 are covered by the Company's property insurance program. The Company also initiated arbitration proceedings against six other reinsurers seeking similar relief. In July 2021, the Vermont court granted the reinsurers’ motion for judgment on the pleadings, which would have ended the Company’s claim. The Company appealed the decision to the Vermont Supreme Court, which reversed and remanded the lower court's decision in September 2022, allowing the Company's claim to proceed. In 2025, the parties filed dispositive motions and await the court’s decision. The Company cannot at this time predict the outcome of this matter.

In September 2021, the Company filed a complaint in the Superior Court of Delaware, seeking a judgment against certain insurers for breach of contract and breach of the implied covenant of good faith and fair dealing under three representations and warranties insurance policies purchased in connection with the Company’s acquisition of Hydroid. The policies insured the Company against losses relating to the seller’s breach of certain representations and warranties in the Hydroid acquisition agreement. In December 2023, the Company and the insurers settled the matter for a payment of $49.5 million to the Company, recognized in the Mission Technologies segment's other income and gains, net in the consolidated statements of operations and comprehensive income.

U.S. Government Investigations and Claims - Departments and agencies of the U.S. Government have the authority to investigate various transactions and operations of the Company, and the results of such investigations may lead to administrative, civil, or criminal proceedings, the ultimate outcome of which could be fines, penalties, repayments or compensatory, treble, or other damages. U.S. Government regulations provide that certain findings against a contractor may also lead to suspension or debarment from future U.S. Government contracts or the loss of export privileges. Any suspension or debarment would have a material effect on the Company because of its reliance on government contracts.

In 2024, the Company identified certain quality issues involving noncompliance with welding procedures at Newport News. The Company commenced an investigation and disclosed the matter to the U.S. Government. The Company continues to work with its U.S. Navy customer to evaluate the full extent of the matter and cannot at this time predict or reasonably estimate the ultimate outcome of this matter.

Asbestos Related Claims - HII and its predecessors-in-interest are defendants in a longstanding series of cases that have been and continue to be filed in various jurisdictions around the country, wherein former and current employees and various third parties allege exposure to asbestos containing materials while on or associated with HII premises or while working on vessels constructed or repaired by HII. In some instances, partial or full insurance coverage is available for the Company's liabilities. The costs to resolve cases during the years ended December 31, 2025, 2024, and 2023 were not material individually or in the aggregate. The Company’s estimate of asbestos-related liabilities is subject to uncertainty because such liabilities are influenced by many variables that are inherently difficult to predict. Although the Company believes the ultimate resolution of current cases will not have a material effect on its consolidated financial position, results of operations, or cash flows, it cannot predict what new or revised claims or litigation might be asserted or what information might come to light and can, therefore, give no assurances regarding the ultimate outcome of asbestos related litigation.
Other Litigation - The Company and its predecessor-in-interest have been in litigation with the Bolivarian Republic of Venezuela (the "Republic") since 2002 over a contract for the repair, refurbishment, and modernization at Ingalls of two foreign-built frigates. Following an arbitration proceeding between the parties, in February 2018 the arbitral tribunal awarded the Company approximately $151 million on its claims and awarded the Republic approximately $22 million on its counterclaims. In November 2023, the Company sold its judgment against the Republic to a third party in exchange for an initial cash payment of $70.5 million, recognized in the Ingalls segment's other income and gains, net in the consolidated statements of operations and comprehensive income. The Company's consideration also includes a contingent participating interest in the final amount recovered.

Other - The Company is party to various other claims, arbitrations, investigations, and other legal proceedings that arise in the ordinary course of business, including U.S. Government investigations and claims that could result in administrative, civil, or criminal proceedings involving the Company. The Company is a contractor with the U.S. Government, and such proceedings can therefore include False Claims Act allegations against the Company. Based on the information available to the Company to date, the Company believes that the resolution of these other claims, legal proceedings, and investigations will not have a material effect on its consolidated financial position, results of operations, or cash flows. However, the Company cannot predict what new or revised claims, litigation, or other proceedings might be asserted or what information might come to light and can, therefore, give no assurances regarding the ultimate outcome of these matters.
v3.25.4
Leases
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Lessee, Operating Leases LEASES
The Company leases certain land, warehouses, office space, and production, office, and technology equipment, among other items. Most equipment is leased on a short-term basis. Many land, warehouse, and office space leases include renewal terms that can extend the lease term. The exercise of lease renewal options is at the Company's sole discretion. The depreciable life of assets and leasehold improvements is generally limited by the expected lease term. The Company's lease agreements do not generally contain material residual value guarantees, material restrictive covenants, or purchase options. The Company's lease portfolio consists primarily of operating leases and an immaterial finance lease included in the consolidated financial statements. See Note 2: Summary of Significant Accounting Policies and Note 13: Debt.

The following table presents costs and other information related to the Company's leases:
Year Ended December 31
($ in millions)202520242023
Operating lease costs$72 $72 $67 
Short-term operating lease costs$61 $57 $54 
Variable operating lease costs$5 $5 $7 
Operating cash flows from operating leases$(73)$(70)$(66)
Right-of-use assets obtained in exchange for new operating lease liabilities$91 $41 $80 
Weighted-average remaining lease term (years) - operating leases8 years8 years9 years
Weighted-average discount rate - operating leases5.4 %5.2 %5.0 %

The undiscounted future non-cancellable lease payments under the Company's operating leases as of December 31, 2025, were as follows:
($ in millions)December 31, 2025
2026$71 
202761 
202848 
202941 
203034 
Thereafter95 
Total lease payments350 
Less: Imputed interest69 
Present value of operating lease liabilities$281 
Lease liabilities included in the Company's consolidated statements of financial position as of December 31, 2025 and 2024, were as follows:
December 31
($ in millions)20252024
Short-term operating lease liabilities$58 $51 
Long-term operating lease liabilities223 205 
Total operating lease liabilities$281 $256 
v3.25.4
Commitments and Contingencies
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies COMMITMENTS AND CONTINGENCIES
Contract Performance Contingencies - Contract profit margins may include estimates of revenues for matters on which the customer and the Company have not reached agreement, such as settlements in the process of negotiation, contract changes, claims, and requests for equitable adjustment for unanticipated contract costs. These estimates are based upon management's best assessment of the underlying causal events and circumstances and recognized to the extent of expected recovery based upon contractual entitlements and the probability of successful negotiation with the customer. The Company believes its outstanding customer settlements will be resolved without material impact to its financial position, results of operations, or cash flows.

Environmental Matters - The estimated costs to complete environmental remediation are accrued when it is probable that the Company will incur such costs in the future to address environmental conditions at currently or formerly owned or leased operating facilities, or at sites where it has been named a Potentially Responsible Party by the Environmental Protection Agency or similarly designated by another environmental agency, and the related costs can be reasonably estimated by management. When only a range of costs is established and no amount within the range is more probable than another, the minimum amount in the range is accrued. Environmental liabilities are recorded on an undiscounted basis and are expensed or capitalized as appropriate. Capitalized expenditures, if any, relate to long-lived improvements in currently operating facilities. The Company does not record insurance recoveries before collection is probable. As of December 31, 2025 and 2024, the Company did not have any accrued receivables related to insurance reimbursements or recoveries for environmental matters.

The Company’s environmental liability accruals do not include any litigation costs related to environmental matters, nor do they include amounts recorded as asset retirement obligations. Management estimates that as of December 31, 2025, the probable estimable future cost for environmental remediation is not material. Although management cannot predict whether new information gained as remediation progresses or the Company incurs additional remediation obligations will materially affect the estimated liability accrued, management does not believe that future remediation expenditures will have a material effect on the Company's consolidated financial position, results of operations, or cash flows.

Financial Arrangements - In the ordinary course of business, HII uses letters of credit issued by commercial banks to support certain leases, insurance policies, and contractual performance obligations, as well as surety bonds issued by insurance companies principally to support the Company's self-insured workers' compensation plans. As of December 31, 2025, the Company had $11 million in issued but undrawn letters of credit, as indicated in Note 13: Debt, and $368 million of surety bonds outstanding.

U.S. Government Claims - From time to time, the U.S. Government communicates to the Company potential claims, disallowed costs, and penalties concerning prior costs incurred by the Company with which the U.S. Government disagrees. When such preliminary findings are presented, the Company and U.S. Government representatives engage in discussions, from which the Company evaluates the merits of the claims and assesses the amounts being questioned. Although the Company believes that the resolution of any of these matters will not have a material effect on its consolidated financial position, results of operations, or cash flows, it cannot predict the ultimate outcome of these matters.

Other Matters - The Company previously disclosed an issue regarding the degree of corrosion of certain steel plates used to fabricate Friedman (NSC 11). During the second quarter of 2025, the Company reached an agreement with the customer to resolve the matter. The resolution of the matter did not have a material impact to the Company's consolidated financial position, results of operations, or cash flows.
Collective Bargaining Agreements - Of the Company's approximately 44,000 employees, 45% are covered by a total of 13 collective bargaining agreements. Newport News has three collective bargaining agreements covering represented employees, which expire in February 2030, December 2030, and April 2031. Ingalls has five collective bargaining agreements covering represented employees, all of which expire in March 2026. Mission Technologies has a total of 80 employees covered by five collective bargaining agreements, which expire in September 2026, December 2027, September 2028, and two that expire in August 2027.

Collective bargaining agreements generally expire after three to five years and are subject to renegotiation at that time. The Company believes its relationship with its employees is satisfactory.

Purchase Obligations - Periodically the Company enters into agreements to purchase goods or services that are enforceable and legally binding on the Company and specify all significant terms, including: fixed or minimum quantities to be purchased; fixed, minimum, or variable price provisions; and the approximate timing of the transaction. These obligations are primarily comprised of open purchase order commitments to vendors and subcontractors pertaining to funded contracts.
v3.25.4
Employee Pension and Other Postretirement Benefits
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Employee Pension and Other Postretirement Benefits EMPLOYEE PENSION AND OTHER POSTRETIREMENT BENEFITS
The Company provides eligible employees defined benefit pension plans, defined contribution benefit plans, and other postretirement benefit plans. Non-collectively bargained defined benefit pension plans accruing benefits under the traditional years of service and compensation formula were amended in 2009 to freeze future service accruals and were replaced with a cash balance benefit for all current non-collectively bargained employees. Except for the major collectively bargained plan at Ingalls, the Company's qualified defined benefit pension plans are frozen to new entrants. The Company's policy is to fund its qualified defined benefit pension plans at least to the minimum amounts required under U.S. Government regulations.

Defined benefit plan obligations are measured based on the present value of projected future benefit payments to participants for services rendered to date. The measurement of projected future benefits is dependent on the terms of each individual plan, demographics, and valuation assumptions. No assumption is made regarding any potential changes to the benefit provisions beyond those to which the Company is currently committed, for example under existing collective bargaining agreements.

The Company also sponsors 401(k) defined contribution pension plans in which most employees are eligible to participate. Company contributions for most defined contribution pension plans are based on the matching of employee contributions up to 4% of eligible compensation. In addition to the 401(k) defined contribution pension benefit formula, non-collectively bargained employees hired after June 30, 2008, and certain collectively bargained employees hired after July 10, 2017, are eligible to participate in a defined contribution benefit program in lieu of a defined benefit pension plan. The Company's contributions to the qualified defined contribution pension plans for the years ended December 31, 2025, 2024, and 2023, were $176 million, $166 million, and $158 million, respectively.

The Company also sponsors defined benefit and defined contribution pension plans to provide benefits in excess of the tax-qualified limits. The liabilities related to these plans as of December 31, 2025, were $204 million and $59 million, respectively, and as of December 31, 2024, were $189 million and $51 million, respectively. Grantor trust assets, primarily in the form of Level 1 marketable securities, are intended to fund certain of these obligations. The trusts’ fair values supporting these liabilities as of December 31, 2025 and 2024, were $249 million and $233 million, respectively, of which $192 million and $179 million, respectively, were related to the non-qualified defined benefit pension plans.

The Company provides contributory postretirement health care and life insurance benefits to a predominantly closed group of eligible employees, retirees, and their qualifying dependents. Covered employees achieve eligibility to participate in these contributory plans upon retirement from active service if they meet specified age, years of service, and grandfathered requirements. Benefits are not guaranteed, and the Company reserves the right to amend or terminate coverage at any time. The Company's contributions for retiree health care benefits are subject to caps, which limit Company contributions when spending thresholds are reached.
The measurement date for all of the Company's retirement related plans is December 31. The costs of the Company's defined benefit pension plans and other postretirement benefit plans for the years ended December 31, 2025, 2024, and 2023, were as follows:
Pension BenefitsOther Benefits
Year Ended December 31Year Ended December 31
($ in millions)202520242023202520242023
Components of net periodic benefit cost
Service cost$86 $109 $112 $4 $6 $6 
Interest cost336 321 343 19 19 21 
Expected return on plan assets(549)(538)(529)— — — 
Amortization of prior service cost (credit)17 16 17 (1)(2)(2)
Amortization of net actuarial loss (gain)1 18 17 (13)(13)(15)
Net periodic benefit (income) cost$(109)$(74)$(40)$9 $10 $10 
The funded status of these plans as of December 31, 2025 and 2024, was as follows:
 Pension Benefits Other Benefits
December 31December 31
($ in millions)2025202420252024
Change in benefit obligation
Benefit obligation at beginning of year$5,791 $6,242 $333 $370 
Service cost86 109 4 6 
Interest cost336 321 19 19 
Plan participants' contributions5 5 9 9 
Plan amendments3 — — — 
Actuarial loss (gain)218 (499)3 (26)
Benefits paid(333)(307)(49)(45)
Settlement— (80)— — 
Benefit obligation at end of year6,106 5,791 319 333 
Change in plan assets
Fair value of plan assets at beginning of year7,024 6,873 — — 
Actual return on plan assets736 514 — — 
Employer contributions14 11 40 36 
Plan participants' contributions5 5 9 9 
Benefits paid(333)(307)(49)(45)
Transfers— 2 — — 
Settlement— (74)— — 
Fair value of plan assets at end of year7,446 7,024 — — 
Funded status$1,340 $1,233 $(319)$(333)
Amounts recognized in the consolidated statements of financial position:
Pension plan assets$1,544 $1,422 $— $— 
Current liability (1)
(49)(47)(119)(124)
Non-current liability (2)
(155)(142)(200)(209)
Accumulated other comprehensive loss (income) (pre-tax) related to:
Prior service costs (credits)108 122 (10)(11)
Net actuarial loss (gain)90 60 (103)(119)
(1)    Included in other current liabilities and current portion of postretirement plan liabilities for pension benefits and other benefits, respectively.
(2)     Included in pension plan liabilities and other postretirement plan liabilities for pension benefits and other benefits, respectively.

In 2024, the Company offered a bulk lump sum window for participants not currently receiving benefits where the present value of the deferred benefit is less than $75 thousand. Approximately 3,900 participants received lump sum distributions of approximately $80 million. The transaction did not trigger settlement accounting under FASB ASC Topic 715 – “Compensation – Retirement Benefits.”

The Projected Benefit Obligation ("PBO"), Accumulated Benefit Obligation ("ABO"), and asset values for the Company's qualified pension plans were $5,901 million, $5,714 million, and $7,446 million, respectively, as of December 31, 2025, and $5,602 million, $5,424 million, and $7,024 million, respectively, as of December 31, 2024. The PBO represents the present value of pension benefits earned through the end of the year, with allowance for future salary increases. The ABO is similar to the PBO, but does not provide for future salary increases.
The PBOs and fair values of plan assets for all qualified and non-qualified pension plans with PBOs in excess of plan assets were $204 million and zero, respectively, as of December 31, 2025, and $189 million and zero, respectively, as of December 31, 2024.

The ABOs for all qualified and non-qualified pension plans with ABOs in excess of plan assets were $192 million and $178 million as of December 31, 2025, and 2024, respectively. The ABOs for all pension plans were $5,906 million and $5,602 million as of December 31, 2025 and 2024, respectively.

The changes in amounts recorded in accumulated other comprehensive loss were as follows:
Pension BenefitsOther Benefits
Year Ended December 31Year Ended December 31
($ in millions)202520242023202520242023
Prior service cost$(3)$— $— $— $— $— 
Amortization of prior service cost (credit)17 16 17 (1)(2)(2)
Net actuarial gain (loss)(31)475 202 (3)26 19 
Amortization of net actuarial loss (gain)1 18 17 (13)(13)(15)
Other— 9 — — (1)— 
Total changes in accumulated other comprehensive loss$(16)$518 $236 $(17)$10 $2 

The weighted average assumptions used to determine the net periodic benefit costs for each year ended December 31 were as follows:
 Pension Benefits
202520242023
Discount rate5.98 %5.28 %5.47 %
Expected long-term rate on plan assets8.00 %8.00 %8.00 %
Rate of compensation increase3.76 %3.63 %3.63 %
 Other Benefits
202520242023
Discount rate5.79 %5.35 %5.50 %
Initial health care cost trend rate assumed for next year6.00 %6.00 %6.00 %
Gradually declining to a rate of4.50 %4.50 %4.50 %
Year in which the rate reaches the ultimate rate2030 2029 2028 

The weighted average assumptions used to determine the benefit obligations as of December 31 of each year were as follows:
 Pension Benefits Other Benefits
December 31December 31
2025202420252024
Discount rate5.72 %5.98 %5.42 %5.79 %
Weighted average interest crediting rate3.57 %3.54 %
Rate of compensation increase3.77 %3.76 %
Initial health care cost trend rate assumed for next year6.50 %6.00 %
Gradually declining to a rate of4.50 %4.50 %
Year in which the rate reaches the ultimate rate2031 2030 

Health Care Cost Trend Rate - The health care cost trend rate represents the annual rates of change in the cost of health care benefits based on estimates of health care inflation, changes in health care utilization or delivery patterns, technological advances, government mandated benefits, and other considerations. Using a combination of market expectations and economic projections as of December 31, 2025, the Company selected an expected initial health care cost trend rate of 6.50% and an ultimate health care cost trend rate of 4.50% to be reached in 2031. As
of December 31, 2024, the Company assumed an expected initial health care cost trend rate of 6.00% and an ultimate health care cost trend rate of 4.50% to be reached in 2030.

The Employee Retirement Income Security Act of 1974 ("ERISA"), including amendments under pension relief legislation, defines the minimum amount the Company must contribute to its qualified defined benefit pension plans. In determining whether to make discretionary contributions to these plans above the minimum required amounts, the Company considers various factors, including attainment of the funded percentage needed to avoid benefit restrictions and other adverse consequences, minimum CAS funding requirements, and the current and anticipated future funding levels of each plan. The Company's contributions to its qualified defined benefit pension plans are affected by a number of factors, including published IRS interest rates, the actual return on plan assets, actuarial assumptions, and demographic experience. These factors and the Company's resulting contributions also impact the funded status of each plan. The Company made the following contributions to its defined benefit pension plans and other postretirement benefit plans for the years ended December 31, 2025, 2024, and 2023:
Year Ended December 31
($ in millions)202520242023
Pension plans
Discretionary
Qualified$— $— $— 
Non-qualified14 11 12 
Other benefit plans40 36 32 
Total contributions$54 $47 $44 

For the year ending December 31, 2026, the Company expects its cash contributions to its qualified defined benefit pension plans to be approximately $2 million, all of which will be discretionary. For the year ending December 31, 2026, the Company expects its cash contributions to its other postretirement benefit plans to be approximately $35 million.

The following table presents estimated future benefit payments, using the same assumptions used in determining the Company's benefit obligations, as of December 31, 2025. Benefit payments depend on future employment and compensation levels, years of service, and mortality. Changes in any of these factors could significantly affect these estimated amounts.
($ in millions)Pension BenefitsOther Benefit Payments
2026$366 $35 
2027384 34 
2028401 32 
2029415 31 
2030427 29 
Years 2031 to 2035$2,258 $124 

Pension Plan Assets

Pension assets include public equities, government and corporate bonds, cash and cash equivalents, private real estate funds, private partnerships, hedge funds, and other assets. Plan assets are held in a master trust and overseen by the Company's Investment Committee. All assets are externally managed through a combination of active and passive strategies. Managers may only invest in the asset classes for which they have been appointed.
 
The Investment Committee is responsible for setting the policy that provides the framework for management of the plan assets. The Investment Committee set the minimum and maximum permitted values for each asset class in the Company's pension plan master trust for the year ended December 31, 2025, as follows:
Range
U.S. and international equities25 -35%
Fixed income securities35 -45%
Alternative investments25 -35%

The general objectives of the Company's pension asset strategy are to earn a rate of return over time to satisfy the benefit obligations of the plans, meet minimum ERISA funding requirements, and maintain sufficient liquidity to pay benefits and address other cash requirements within the master trust. Specific investment objectives include reducing the volatility of pension assets relative to benefit obligations, achieving a competitive total investment return, achieving diversification between and within asset classes, and managing other risks. Investment objectives for each asset class are determined based on specific risks and investment opportunities identified. Decisions regarding investment policies and asset allocations are made with the understanding of the historical and prospective return and risk characteristics of various asset classes, the effect of asset allocations on funded status, future Company contributions, and projected expenditures, including benefit payments. The Company updates its asset allocations periodically. The Company uses various analytics to determine the optimal asset mix and considers plan obligation characteristics, duration, liquidity characteristics, funding requirements, expected rates of return, regular rebalancing, and the distribution of returns. Actual allocations to each asset class could vary from target allocations due to periodic investment strategy changes, short-term market value fluctuations, the length of time it takes to fully implement investment allocation positions, such as real estate and other alternative investments, and the timing of benefit payments and Company contributions.

Taking into account the asset allocation ranges, the Company determines the specific allocation of the master trust's investments within various asset classes. The master trust utilizes select investment strategies, which are executed through separate account or fund structures with external investment managers who demonstrate experience and expertise in the appropriate asset classes and styles. The selection of investment managers is done with careful evaluation of all aspects of performance and risk, demonstrated fiduciary responsibility, investment management experience, and a review of investment manager policies and processes. Investment performance is monitored frequently against appropriate benchmarks and tracked to compliance guidelines with the assistance of third-party consultants and performance evaluation tools and metrics.

Plan assets are stated at fair value. The Company employs a variety of pricing sources to estimate the fair value of its pension plan assets, including independent pricing vendors, dealer or counterparty-supplied valuations, third-party appraisals, and appraisals prepared by the Company's investment managers or other experts.

Investments in equity securities, common and preferred, are valued at the last reported sales price when an active market exists. Securities for which official or last trade pricing on an active exchange is available are classified as Level 1. If closing prices are not available, securities are valued at the last trade price, if deemed reasonable, or a broker's quote in a non-active market, and are typically categorized as Level 2.

Investments in fixed-income securities are generally valued by independent pricing services or dealers who make markets in such securities. Pricing methods are based upon market transactions for comparable securities and various relationships between securities that are generally recognized by institutional traders, and fixed-income securities typically are categorized as Level 2.

Investments in collective trust funds and commingled funds that use Net Asset Values (“NAV”) are valued based on the redemption price of units owned by the master trust, which is based on the current fair values of the fund assets, as reported by the investment manager.

Investments in hedge funds generally do not have readily available market quotations and are estimated at fair value, which primarily utilizes NAV or the equivalent, as a practical expedient, as reported by the investment manager. Hedge funds usually have restrictions on redemptions that might affect the ability to sell the investment at NAV in the short term.
Real estate funds are typically valued through updated independent third-party appraisals, which are adjusted for changes in cash flows, market conditions, property performance, and leasing status. Since real estate funds do not have readily available market quotations, they are generally valued at NAV or its equivalent, as a practical expedient, as reported by the asset manager. Redemptions from real estate funds are also subject to various restrictions.

Private partnership interests include debt and equity investments. These investments are valued based on NAVs or their equivalents, adjusted for capital calls and distributions, reported by the respective general partners. The terms of the partnerships range from seven to ten or more years, and investors do not have the option to redeem their interests in these partnerships. As of December 31, 2025, unfunded commitments to private partnerships were $422 million.

Management reviews independently appraised values, audited financial statements, and additional pricing information to evaluate the NAVs. For the limited group of investments for which market quotations are not readily available or for which the above valuation procedures are deemed not to reflect fair value, additional information is obtained from the investment manager and evaluated internally to determine whether any adjustments are required to reflect fair value.

The Company might be unable to quickly liquidate some assets at amounts close or equal to fair value in order to meet plan liquidity requirements or respond to specific events, such as the creditworthiness of any particular issuer or counterparty. Illiquid assets are generally long-term investments that complement the long-term nature of the Company's pension obligations and are generally not used to fund benefit payments in the short term. Management monitors liquidity risk on an ongoing basis and has procedures designed to maintain adequate liquidity for plan requirements.

The master trust has considerable investments in fixed income securities for which changes in the relevant interest rate of a particular instrument might result in the inability to secure similar returns upon the maturity or sale of the instrument. Changes in prevailing interest rates might result in an increase or decrease in fair value of the instrument. Investment managers are permitted to use interest rate swaps and other financial derivatives to manage interest rate and credit risks.

Counterparty risk is the risk that a counterparty to a financial instrument held by the master trust will default on its commitment. Counterparty risk is generally related to over-the-counter derivative instruments used to manage risk exposure to interest rates on long-term debt securities. Certain agreements with counterparties employ set-off agreements, collateral support arrangements, and other risk mitigation practices designed to reduce the net credit risk exposure in the event of a counterparty default. The Company has credit policies and processes that manage concentrations of risk by seeking to undertake transactions with large well-capitalized counterparties and by monitoring the creditworthiness of these counterparties.
Certain investments that are measured at fair value using NAV per share (or its equivalent) as a practical expedient are not required to be categorized in the fair value hierarchy table. The total fair value of these investments is included in the table below to permit reconciliation of the fair value hierarchy to amounts presented in the funded status table above.
December 31, 2025
($ in millions)TotalLevel 1Level 2Level 3
Plan assets subject to leveling
U.S. and international equities$1,624 $1,624 $— $— 
Government and agency debt securities1,154 — 1,154 — 
Corporate and other debt securities1,696 — 1,696 — 
Group annuity contract3 — 3 — 
Cash and cash equivalents, net8 8 — — 
Net plan assets subject to leveling$4,485 $1,632 $2,853 $— 
Plan assets not subject to leveling
U.S. and international equities(1)
810 
Corporate and other debt securities277 
Real estate investments376 
Private partnerships962 
Hedge funds422 
Cash and cash equivalents, net(2)
114 
Total plan assets not subject to leveling2,961 
Net plan assets$7,446 
(1) U.S. and international equity securities include investments in small, medium, and large capitalization stocks of public companies held in commingled trust funds.
(2) Cash and cash equivalents are liquid short-term investment funds and include net receivables and payables of the trust. These funds are available for immediate use to fund daily operations, execute investment policies, and serve as a temporary investment vehicle.
December 31, 2024
($ in millions)TotalLevel 1Level 2Level 3
Plan assets subject to leveling
U.S. and international equities$1,499 $1,499 $— $— 
Government and agency debt securities777 — 777 — 
Corporate and other debt securities1,487 — 1,487 — 
Group annuity contract3 — 3 — 
Cash and cash equivalents, net21 21 — — 
Net plan assets subject to leveling$3,787 $1,520 $2,267 $— 
Plan assets not subject to leveling
U.S. and international equities(1)
1,199 
Corporate and other debt securities242 
Real estate investments469 
Private partnerships926 
Hedge funds275 
Cash and cash equivalents, net(2)
126 
Total plan assets not subject to leveling3,237 
Net plan assets$7,024 
(1) U.S. and international equity securities include investments in small, medium, and large capitalization stocks of public companies held in commingled trust funds.
(2) Cash and cash equivalents are liquid short-term investment funds and include net receivables and payables of the trust. These funds are available for immediate use to fund daily operations, execute investment policies, and serve as a temporary investment vehicle.

There was no activity attributable to Level 3 retirement plan assets during the years ended December 31, 2025 and 2024.
v3.25.4
Stock Compensation Plans
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Stock Compensation Plans STOCK COMPENSATION PLANS
As of December 31, 2025, HII had stock-based compensation awards outstanding under the following plans: the Huntington Ingalls Industries, Inc. 2011 Long-Term Incentive Stock Plan (the "2011 Plan"), the Huntington Ingalls Industries, Inc. 2012 Long-Term Incentive Stock Plan (the "2012 Plan"), and the Huntington Ingalls Industries, Inc. 2022 Long-Term Incentive Stock Plan (the "2022 Plan").

Stock Compensation Plans

On March 1, 2022, the Company's board of directors adopted the 2022 Plan, subject to stockholder approval, and the Company's stockholders approved the 2022 Plan on May 3, 2022. Award grants made on or after May 3, 2022, were made under the 2022 Plan. Award grants made prior to May 3, 2022, were made under the 2011 Plan or the 2012 Plan. No future grants will be made under the 2011 Plan or the 2012 Plan.

The 2022 Plan permits awards of stock options, stock appreciation rights, and other stock awards. Stock awards, in the form of RPSRs and RSRs, are granted to employees and members of the board of directors without payment to the Company. The 2022 Plan authorized (i) 1.3 million new shares; plus (ii) any shares subject to outstanding awards under the 2012 Plan that were subsequently forfeited to the Company; plus (iii) any shares subject to outstanding awards under the 2012 Plan that were subsequently exchanged by the participant as full or partial payment to the Company in connection with any such award or exchanged by a participant or withheld by the Company to satisfy the tax withholding obligations related to any such award. As of December 31, 2025, the remaining aggregate number of shares of the Company's common stock authorized for issuance under the 2022 Plan was 0.9 million.
The 2011 Plan and 2012 Plan permitted awards of stock options and other stock awards. Stock awards, in the form of stock rights, were granted to members of the board of directors without payment to the Company.

Stock Awards

The Company issued the following stock awards in the years ended December 31, 2025, 2024, and 2023:

Restricted Performance Stock Rights - For the year ended December 31, 2025, the Company granted approximately 0.2 million RPSRs at a weighted average share price of $169.27. These rights are subject to cliff vesting on December 31, 2027. For the year ended December 31, 2024, the Company granted approximately 0.1 million RPSRs at a weighted average share price of $288.26. These rights are subject to cliff vesting on December 31, 2026. For the year ended December 31, 2023, the Company granted approximately 0.2 million RPSRs at a weighted average share price of $215.24. These rights were fully vested as of December 31, 2025. All of the RPSRs are subject to the achievement of performance-based targets at the end of the respective vesting periods and will ultimately vest between 0% and 200% of grant date value.

Compensation Restricted Stock Rights - For the year ended December 31, 2025, the Company granted approximately 0.1 million compensation RSRs at a weighted average share price of $170.99. For the year ended December 31, 2024, the Company granted approximately 0.1 million compensation RSRs at a weighted average share price of $287.38.These rights vest 33 1/3% upon each of the first, second, and third anniversaries of the grant date. No compensation RSRs were granted for the year ended December 31, 2023.

Retention Restricted Stock Rights - Retention stock awards are granted to key employees primarily to incentivize continued employment with the Company. In 2025, the Company granted approximately 2,700 retention RSRs at a weighted average share price of $227.70, with cliff vesting one to two years from the grant date. In 2024, the Company granted approximately 2,200 retention RSRs at a weighted average share price of $281.01, with cliff vesting one to three years from the grant date. In 2023, the Company granted approximately 9,500 retention RSRs at a weighted average share price of $213.37, with cliff vesting two to three years from the grant date. As of December 31, 2025, approximately 5,200 retention RSRs were outstanding.

The Company also received transfers of stock awards from employees in satisfaction of minimum tax withholding obligations associated with the vesting of stock awards during the period. The Company does not consider these transfers as treasury stock because the stock is not issued; rather, the award is surrendered in lieu of payments of cash to settle tax obligations.

Stock Rights and Stock Issuances - The Company granted stock rights to its non-employee directors on a quarterly basis in 2025, with each grant less than 10,000 shares. All stock rights granted to non-employee directors are fully vested on the grant date. If a non-employee director has met certain stock ownership requirements, the non-employee director may elect under the terms of the Amended and Restated Directors’ Compensation Policy and Amended and Restated Board Deferred Compensation Policy to receive their annual equity award for the following calendar year in the form of either shares of the Company’s common stock or stock units that are payable in the fifth calendar year after the year in which the annual equity award is earned, or, if earlier, upon termination of the director’s board service.

Non-employee directors may also elect to receive their annual cash retainers in the form of stock units that become payable upon termination of the director’s board service. Non-employee directors who elect to receive their annual cash retainers in the form of stock units and have met their stock ownership requirements may elect under the terms of the Amended and Restated Directors’ Compensation Policy and Amended and Restated Board Deferred Compensation Policy to receive in the following calendar year either shares of the Company's common stock or stock units that are payable in the fifth calendar year after the year in which the stock units are earned, or, if earlier, upon termination of the director’s board service.
Stock award activity for the years ended December 31, 2025, 2024, and 2023, was as follows:
Stock Awards
(in thousands)
Weighted-Average
Grant Date Fair
Value
Weighted
Average
Remaining
Contractual Term
Outstanding as of December 31, 2022506 $189.68 1.0 year
Granted177 215.16 
Adjustment due to performance32 224.35 
Vested(155)224.35 
Forfeited(25)178.68 
Outstanding as of December 31, 2023535 189.98 1.0 year
Granted174 286.14 
Adjustment due to performance61 181.76 
Vested(206)181.76 
Forfeited(14)240.77 
Outstanding as of December 31, 2024550 221.59 1.0 year
Granted316 172.05 
Adjustment due to performance21 215.47 
Vested(194)215.47 
Forfeited(30)219.31 
Outstanding as of December 31, 2025663 $199.43 1.0 year

Vested awards include stock awards that fully vested during the year based on the level of achievement of the relevant performance goals. The performance goals for outstanding RPSRs granted in 2025, 2024, and 2023 were based on three metrics as defined in the grant agreements: earnings before interest, taxes, depreciation, amortization, and pension ("EBITDAP"), weighted at 40%, pension-adjusted return on invested capital, weighted at 40%, and relative EBITDAP growth, weighted at 20%. The Company's EBITDAP growth is measured against EBITDAP growth of the S&P Aerospace and Defense Select Index.

Compensation Expense

The Company recorded $54 million, $23 million, and $34 million of expense related to stock awards for the years ended December 31, 2025, 2024, and 2023, respectively. The Company recorded $12 million, $7 million, and $10 million as tax benefits related to stock awards for the years ended December 31, 2025, 2024, and 2023, respectively.

The Company recognized tax benefits for the years ended December 31, 2025, 2024, and 2023, of $8 million, $6 million, and $7 million, respectively, from the issuance of stock in settlement of stock awards.

Unrecognized Compensation Expense

As of December 31, 2025, the Company had $23 million of unrecognized compensation expense associated with RSRs granted in 2025 and 2024, which will be recognized over a weighted average period of 1.0 year, and $25 million of unrecognized expense associated with RPSRs granted in 2025 and 2024, which will be recognized over a weighted average period of 1.0 year.
v3.25.4
Subsidiary Guarantors
 12 Months Ended
Dec. 31, 2025
Subsidiary Guarantors [Abstract]  
Guarantor Subsidiaries [Text Block] SUBSIDIARY GUARANTORS
As described in Note 13: Debt, the Company issued senior notes through the consolidating parent company, HII. Performance of the Company's obligations under its senior notes outstanding as of December 31, 2025, including any repurchase obligations resulting from a change of control, is fully and unconditionally guaranteed, jointly and severally, on an unsecured basis, by each of HII's existing and future material domestic subsidiaries ("Subsidiary Guarantors"). The Subsidiary Guarantors are 100% owned by HII. Each HII subsidiary that did not provide a guarantee ("Non-Guarantors") is not material and HII, as the parent company issuer, did not have independent assets or operations. There are no significant restrictions on the ability of the parent company and the Subsidiary
Guarantors to obtain funds from their respective subsidiaries by dividend or loan, except those imposed by applicable law.
v3.25.4
Valuation and Qualifying Accounts
 12 Months Ended
Dec. 31, 2025
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]  
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure
Schedule II - Valuation and Qualifying Accounts
All other schedules have been omitted because they are not applicable, not required, or the information has been otherwise supplied in the financial statements or notes to the financial statements.
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS
Balance at Beginning of Period(Benefits)/Charges to IncomeOtherBalance at End of Period
Year Ended December 31, 2023
Valuation allowance for deferred tax assets$28 $1 $— $29 
Year Ended December 31, 2024
Valuation allowance for deferred tax assets29 (3)— 26 
Year Ended December 31, 2025
Valuation allowance for deferred tax assets$26 $(1)$— $25 
v3.25.4
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.4
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block]
Our cybersecurity program (the “Cybersecurity Program”) includes processes to identify, assess, and manage material risks from cybersecurity threats. The Cybersecurity Program processes utilize a risk-based approach and
include written cybersecurity and information technology policies and procedures, including a cybersecurity incident response plan.

The Cybersecurity Program is informed, in part, by the guidelines of the National Institute of Standards and Technology Cybersecurity Framework to define material risks and establish controls designed to protect, detect, respond to, and recover from cybersecurity incidents. Controls are embedded within our processes and technology, and system activities are measured and monitored by our cybersecurity and information security subject matter specialists and applicable security operations centers at our different business units. We utilize an enterprise-wide “defense-in-depth” risk management strategy to effectively integrate people, processes, and technology.

When appropriate, we use external subject matter specialists to provide incident response services and to conduct independent assessments of internal response readiness. We conduct tabletop scenario planning, covering a range of potential cybersecurity threats, as part of our internal response readiness assessment. We also maintain a supply chain cybersecurity compliance and risk mitigation program to assess material cybersecurity risk from third parties.
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] Cybersecurity Committee, which is tasked with oversight of the Cybersecurity Program, including: (i) strategy and governance; (ii) operations; and (iii) risk management and regulatory compliance.
The Cybersecurity Committee responsibilities include:
•reviewing our enterprise cybersecurity strategy and framework, including our assessment of cybersecurity threats and risk, data security programs, and our management and mitigation of cybersecurity and information technology risks and potential breach incidents;
•reviewing any significant cybersecurity incident that has occurred, reports to or from regulators with respect thereto, and steps that have been taken to mitigate against reoccurrence;
•evaluating the effectiveness of our cyber risk management and data security programs measured against our cybersecurity threat landscape;
•assessing the effectiveness of our data breach incident response plan;
•reviewing and assessing our information technology disaster recovery capabilities; and
•reviewing our assessment of cybersecurity threats and risks associated with our supply chain and actions we are taking to address such threats and risks.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] Following each committee meeting, the chair of the Cybersecurity Committee briefs the full board of directors on matters covered at the prior Cybersecurity Committee meeting. The board also receives periodic briefings on emerging trends in order to enhance its literacy on cybersecurity issues. At least annually, the Cybersecurity Committee receives updates about the results of the Cybersecurity Program reviews.
The Cybersecurity Committee participates with management periodically in “tabletop” exercises to evaluate our data breach incident response plan.
Cybersecurity Risk Role of Management [Text Block]
Our cybersecurity incident response framework is governed by a corporate Cybersecurity Incident Response Plan (the “IRP”), which sets out our approach for categorizing, responding to, and mitigating cybersecurity incidents. The IRP provides definitions of key terms, stakeholder roles and responsibilities, and a response governance and escalation process.

We have an incident response team comprised of our CISO, executive leaders, management, and internal and external legal counsel, whose primary responsibilities include:
•evaluating and validating the impact of an incident;
•approving certain incident response countermeasures and remediation actions;
•escalating incidents and response countermeasures for approval; and
•acting in an advisory capacity in support of cybersecurity incident remediation, as appropriate.

We also have an executive cybersecurity and information technology steering committee comprised of our Chief Executive Officer, CIO, and other members of our executive leadership team, whose primary responsibilities include:
•approving containment and remediation procedures for escalated cyber incidents;
•activating, when appropriate, a crisis management team response; and
•approving certain incident response measures.

We maintain a Crisis Management Plan that addresses our preparation for, management, recovery from, and ultimate resumption of business after a crisis, including emergency response, continued recovery, and business resumption activities such as information systems recovery, when a cybersecurity incident may potentially have a significant impact on our business strategy, results of operations, or financial condition.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]
Our Cybersecurity and Information Technology organization is led by our CIO, who is responsible for cybersecurity risk management, with oversight by the Cybersecurity Committee of the board of directors. Our CIO has more than 25 years of experience in the IT industry. Since 2008, he has held senior-level and CIO positions for several companies, each of which included responsibilities or influence for cybersecurity implementation, delivery, and oversight.

Our CISO executes the Cybersecurity Program with the support of the Cybersecurity Management Team, which has extensive cybersecurity expertise to protect and defend our networks, physical systems, infrastructure, and data from cybersecurity risks. Our CISO has more than 25 years of experience with HII and over 20 years of experience in cybersecurity and information technology. He has specific experience in the following cybersecurity areas: Cyber & IT security policy & governance; information risk management; cybersecurity strategic planning and integration; enterprise infrastructure; cybersecurity engineering; incident response and remediation; supply chain cyber risk
management; cybersecurity awareness training; M&A cyber risk management; identity and access management; disaster recovery; and cybersecurity regulation compliance.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] The Cybersecurity Committee receives reports and updates at committee meetings from our Chief Information Officer (“CIO”), Chief Information Security Officer (“CISO”), and other executives and cybersecurity specialists.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.4
Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Principles of Consolidation
Principles of Consolidation - The consolidated financial statements of HII and its subsidiaries have been prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP") and the instructions to Form 10-K promulgated by the Securities and Exchange Commission ("SEC"). As used in the Notes to the Consolidated Financial Statements, the terms "HII" and "the Company" refer to HII and its subsidiaries. All intercompany transactions and balances are eliminated in consolidation. For classification of current assets and liabilities related to its long-term production contracts, the Company uses the duration of these contracts as its operating cycle, which is generally longer than one year. Additionally, certain prior year amounts have been reclassified to conform to the current year presentation.
Accounting Estimates
Accounting Estimates - The preparation of the Company's 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.
Revenue Recognition
Revenue Recognition - Most of the Company's revenues are derived from long-term contracts for the production of goods and services provided to its U.S. Government customers. The Company generally recognizes revenues on contracts with U.S. Government customers over time using a cost-to-cost measure of progress. The use of the cost-to-cost method to measure performance progress over time is supported by clauses in the related contracts that allow the customer to unilaterally terminate the contract for convenience, pay the Company for costs incurred plus a reasonable profit, and take control of any work in process. The Company utilizes the cost-to-cost method to measure performance progress because it best reflects the continuous transfer of control of the related goods and services to the customer as the Company satisfies its performance obligations.

When the customer is not a U.S. Government entity, the Company may recognize revenue over time or at a point in time when control transfers upon delivery, depending upon the facts and circumstances of the related arrangement. When the Company determines that revenue should be recognized over time, the Company utilizes a measure of progress that best depicts the transfer of control of the relevant goods and services to the customer. Generally, the terms and conditions of the contracts result in a transfer of control of the related goods and services as the Company satisfies its performance obligations. Accordingly, the Company recognizes revenue over time using the cost-to-cost method to measure performance progress. The Company may, however, utilize a measure of progress other than cost-to-cost, such as a labor-based measure of progress, if the terms and conditions of the arrangement require such accounting.

When using the cost-to-cost method to measure performance progress, certain contracts may include costs that are not representative of performance progress, such as large upfront purchases of uninstalled materials, unexpected waste, or inefficiencies. In these cases, the Company adjusts its measure of progress to exclude such costs, with the goal of better reflecting the transfer of control of the related goods or services to the customer and recognizing revenue only to the extent of the costs incurred that reflect the Company's performance under the contract.
In addition, for time and material arrangements, the Company often utilizes the practical expedient allowing the recognition of revenue in the amount the Company has a right to invoice, which corresponds with the value provided to the customer and to which the Company is entitled to payment for performance to date.

A performance obligation is a promise to transfer a distinct good or service to the customer and is the unit of account for which revenue is recognized. To determine the proper revenue recognition method, consideration is given to whether two or more contracts should be combined and accounted for as one contract and whether a single contract consists of more than one performance obligation. For contracts with multiple performance obligations, the contract transaction price is allocated to each performance obligation using an estimate of the standalone selling price based upon expected cost plus a margin at contract inception, which is generally the price disclosed in the contract. Contracts are often modified to account for changes in contract specifications and requirements. Generally, modifications do not result in additional performance obligations that are distinct from the existing performance obligations in the contract, and the effects of the modifications are recognized as an adjustment to revenue on a cumulative catch-up basis. Alternatively, when the performance obligations in the modifications are deemed distinct, contract modifications are accounted for prospectively.

The amount of revenue recognized as the Company satisfies performance obligations associated with contracts with customers is based upon the determination of transaction price. Transaction price reflects the amount of consideration to which the Company expects to be entitled for performance under the terms and conditions of the contract. Transaction price may include fixed and variable components, including shareline incentive fees whereby the value of the contract is variable based upon the amount of costs incurred, as well as other incentive fees based upon achievement of contractual schedule commitments or other specified criteria in the contract. Shareline incentive fees are determined based upon the formula under the relevant contract using the Company’s estimated cost to complete for each period. The Company generally utilizes a most likely amount approach to estimate variable consideration. In all such instances, the estimated revenues represent those amounts for which the Company believes a significant reversal of revenue is not probable.
Contract Estimates
Contract Estimates - In estimating contract performance, the Company utilizes a profit-booking rate based upon performance expectations that takes into consideration a number of assumptions and estimates regarding risks related to technical requirements, feasibility, schedule, and contract costs. Management performs periodic reviews of the contracts to evaluate the underlying risks, which may increase the profit-booking rate as the Company is able to mitigate and retire such risks. Conversely, if the Company is not able to retire these risks, cost estimates may increase, resulting in a lower profit-booking rate.

The cost estimation process requires significant judgment based upon the professional knowledge and experience of the Company’s engineers, program managers, and financial professionals. Factors considered in estimating the work to be completed and ultimate contract recovery include the availability, productivity, and cost of labor, the nature and complexity of the work to be performed, the effect of change orders, the availability of materials, the effect of any performance delays, the availability and timing of funding from the customer, and the recoverability of any claims included in the estimates to complete.

Changes in estimates of sales, costs, and profits on a performance obligation are recognized using the cumulative catch-up method of accounting, which recognizes in the current period the cumulative effect of the changes in current and prior periods. A significant change in an estimate on one or more contracts in a period could have a material effect on the Company's consolidated financial position or results of operations for that period.

When estimates of total costs to be incurred exceed estimates of total revenue to be earned on a complex, construction-type contract or a performance obligation related to such a contract, a provision for the entire loss on the contract or the performance obligation is recognized in the period the loss is determined. The determination of whether the loss is identified at the contract or performance obligation level is an accounting policy election that is applied consistently to similar contract types.
Accounts Receivable
Accounts Receivable - Accounts receivable include amounts related to any unconditional Company right to receive consideration and are presented as accounts receivable, net in the consolidated statements of financial position, separate from other contract balances. Accounts receivable are comprised of amounts billed and currently due from customers. The Company reports accounts receivable net of an allowance for expected credit losses. Because the Company's accounts receivable are primarily with the U.S. Government or with companies
acting as a contractor to the U.S. Government, the Company does not have material exposure to accounts receivable credit risk.
Contract Assets
Contract Assets - Contract assets primarily relate to the Company’s right to consideration for work completed but not billed as of the reporting date when the right to payment is not subject only to the passage of time, including retention amounts. Contract assets are classified as current assets and, in accordance with industry practice, include amounts that may be billed and collected beyond one year due to the long-term nature of many of the Company's contracts. Contract assets are transferred to accounts receivable when the right to consideration becomes unconditional.
Contract Liabilities
Contract Liabilities - Contract liabilities are comprised of advance payments, billings in excess of revenues, and deferred revenue amounts. Such advances are generally not considered a significant financing component, because they are utilized to pay for contract costs within a one-year period. Contract liability amounts are recognized as revenue once the requisite performance progress has occurred.
Inventoried Costs
Inventoried Costs - Inventoried costs primarily relate to company-owned raw materials, which are stated at the lower of cost or net realizable value, generally using the average-cost method, and costs capitalized pursuant to applicable provisions of the Federal Acquisition Regulation ("FAR") and U.S. Cost Accounting Standards ("CAS"). Under the Company's U.S. Government contracts, the customer asserts title to, or a security interest in, inventories related to such contracts as a result of contract advances, performance-based payments, and progress payments. In accordance with industry practice, inventoried costs are classified as current assets and include amounts related to contracts having production cycles longer than one year.
Cost to Obtain or Fulfill a Contract
Costs to Obtain or Fulfill a Contract - Costs to obtain a contract are incremental direct costs incurred to obtain a contract with a customer and are capitalized if material. Costs to fulfill a contract include costs directly related to a contract or a specific anticipated contract (for example, mobilization and set-up) that generate or enhance the Company's ability to satisfy its performance obligations under a contract. These costs are capitalized to the extent they are expected to be recovered from the associated contract. Capitalized costs to obtain or fulfill a contract are amortized to expense over the expected period of benefit. Costs to obtain or fulfill a contract are reported within prepaid expenses and other current assets on the consolidated statements of financial position and are not material as of December 31, 2025 and 2024.
Warranty Costs
Warranty Costs - Certain of the Company’s contracts contain assurance-type warranty provisions, which generally promise that the service or vessel will comply with agreed upon specifications. In such instances, the Company accrues the estimated loss by a charge to income in the relevant period. In limited circumstances, the Company's complex construction type contracts may provide the customer with an option to purchase a warranty or provide an extended assurance service coupled with the primary assurance warranty. In such cases, the Company accounts for the warranty as a separate performance obligation to the extent it is material within the context of the contract. Warranty liabilities are reported within other current liabilities and are not material as of December 31, 2025 and 2024.
Government Grants
Government Grants - The Company recognizes incentive grants, including transfers of depreciable assets, from federal, state, and local governments at fair value upon compliance with the conditions of their receipt and reasonable assurance that the grants will be received or the depreciable assets will be transferred. Grants related to specific expenses are recognized in the period in which the expenses are incurred as an offset to the related expenses. Grants related to depreciable assets are recognized over the periods and in the proportions in which depreciation expense on those assets is recognized. Government grants are reported within other current liabilities and other long term liabilities and are not material as of December 31, 2025 and 2024.
General and Administrative Expenses
General and Administrative Expenses - In accordance with industry practice and regulations that govern the cost accounting requirements for government contracts, most general corporate expenses incurred at both the segment and corporate locations are allowable and allocable costs on government contracts. These costs are allocated to contracts in progress on a systematic basis, and contract performance factors include this as an element of cost.

General and administrative expenses also include certain other costs that do not affect segment operating income, primarily non-current state income taxes. Non-current state income taxes include deferred state income taxes, which reflect the change in deferred state tax assets and liabilities, and the tax expense or benefit associated with changes in state unrecognized tax benefits in the relevant period.
Research and Development
Research and Development - Company-sponsored research and development activities primarily include independent research and development ("IR&D") related to experimentation, design, development, and test activities for government programs. IR&D expenses are included in general and administrative expenses and are generally allocable to government contracts. Company-sponsored IR&D expenses totaled $26 million, $27 million, and $35 million for the years ended December 31, 2025, 2024, and 2023, respectively. Expenses for research and development sponsored by the customer are charged directly to the related contracts.
Fair Value of Financial Instruments
Fair Value of Financial Instruments - In measuring fair value, the use of observable inputs is required to be maximized, where available. The fair value hierarchy provides for three levels of inputs:

Level 1:    Quoted prices in active markets for identical assets and liabilities.

Level 2:    Observable inputs, other than Level 1 prices, such as: quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or that the Company corroborates with observable market data for substantially the full term of the related assets or liabilities.

Level 3:    Unobservable inputs supported by little or no market activity that are significant to the fair value of the assets and liabilities.

Except for the Company's long-term debt, the carrying amounts of the Company's financial instruments that are recorded at historical cost approximate fair value due to the short-term nature of the instruments and low credit risk associated with the respective counterparties.

The Company maintains multiple grantor trusts to fund certain non-qualified pension plans. These trusts were valued at $249 million and $233 million as of December 31, 2025 and 2024, respectively, and are presented within miscellaneous other assets on the consolidated statements of financial position. These trusts consist primarily of investments in marketable securities, which are held at fair value within Level 1 of the fair value hierarchy.
Asset Retirement Obligations
Asset Retirement Obligations - Asset decommissioning and/or remediation activities may be required when the Company ceases to utilize certain facilities. The Company records, within other current liabilities or other long-term liabilities as appropriate, all known asset retirement obligations for which the liability's fair value can be reasonably estimated, including certain asbestos removal, asset decommissioning, and lease restoration obligations. Asset retirement obligations for which the liability's fair value can be reasonably estimated are not material as of December 31, 2025 and 2024.
Income Taxes
Income Taxes - Income tax expense and other related information are based on the prevailing statutory rates for U.S. federal income taxes and the composite state income tax rate for the Company for each period presented. Non-current state income taxes include deferred state income taxes, which reflect the change in deferred state tax assets and liabilities, and the tax expense or benefit associated with changes in state unrecognized tax benefits in the relevant period. These amounts are recorded within operating income, while the current period state income tax expense, which is generally allowable and allocable to contracts, is charged to contract costs and included in cost of sales and service revenues in segment operating income.

Deferred income taxes are recorded when revenues and expenses are recognized in different periods for financial statement purposes and for tax return purposes. Deferred tax asset or liability account balances are calculated at the balance sheet date using current tax laws and rates expected to be in effect when the deferred tax items reverse in future periods.

The Company recognizes deferred tax assets to the extent it believes these assets are more likely than not to be realized. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and recent results of operations. Based on the Company's evaluation of these deferred tax assets, valuation allowances of $25 million and $26 million were recognized as of December 31, 2025 and 2024, respectively.

Uncertain tax positions meeting the more-likely-than-not recognition threshold, based on the merits of the position, are recognized in the financial statements. The Company recognizes the amount of tax benefit that is more than 50% likely to be realized upon ultimate settlement with the related tax authority. If a tax position does not meet the minimum statutory threshold to avoid payment of penalties, the Company recognizes an expense for the amount of
the penalty in the period the tax position is claimed or expected to be claimed in its tax return. Penalties and accrued interest related to unrecognized tax benefits are recognized as a component of income tax expense. Changes in accruals associated with unrecognized tax benefits are recorded in earnings in the period in which they are determined.
Cash and Cash Equivalents
Cash and Cash Equivalents - The carrying amounts of cash and cash equivalents approximate fair value due to the short-term nature of these assets, which have original maturity dates of 90 days or less.
Concentration Risk
Concentration Risk - The Company’s assets that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents. The Company places its cash and cash equivalents with reputable financial institutions and limits the amount of credit exposure with any one of them. The Company regularly evaluates the creditworthiness of these financial institutions and mitigates this credit risk by entering into transactions with high-quality counterparties, limiting the exposure to each counterparty, and monitoring the financial condition of its counterparties.

In connection with its U.S. Government contracts, the Company is required to procure certain raw materials, components, and parts from supply sources approved by the U.S. Government. Only one supplier may exist for certain components and parts required to manufacture the Company's products.
Property, Plant, and Equipment
Property, Plant, and Equipment - Depreciable properties owned by the Company are recorded at cost and depreciated over the estimated useful lives of individual assets and asset classes. Major improvements are capitalized while expenditures for maintenance, repairs, and minor improvements are expensed. Costs incurred for computer software developed or purchased for internal use are capitalized and amortized over the expected useful life of the software, not to exceed nine years. Leasehold improvements are amortized over the shorter of their useful lives or the term of the lease.

The remaining assets are depreciated using the straight-line method, with the following lives:
Years
Land improvements2-40
Buildings and improvements2-60
Capitalized software costs3-9
Machinery and other equipment2-40
The Company evaluates the recoverability of its property, plant, and equipment when changes in economic circumstances or business objectives indicate the carrying value may not be recoverable. The Company's evaluations include estimated future cash flows, profitability, and other factors affecting fair value. As these assumptions and estimates may change over time, it may or may not be necessary to record impairment charges.
Cloud Computing Arrangements
Cloud Computing Arrangements - Certain costs to implement cloud computing service arrangements hosted by third party vendors are capitalized when incurred during the application development stage. Implementation costs are subsequently amortized using the straight-line method over the expected term of the related cloud computing service arrangement, generally ten years or less. Capitalized implementation costs are reported net of accumulated amortization within miscellaneous other assets on the consolidated statements of financial position and are not material as of December 31, 2025 and 2024.
Leases
Leases - The Company determines if an arrangement is a lease at contract inception. A lease exists when a contract conveys to a party the right to control the use of identified property, plant, or equipment for a period of time in exchange for consideration. The Company recognizes a lease liability at the lease commencement date, as the present value of future lease payments, using an estimated rate of interest that the Company would pay to borrow equivalent funds over an equivalent term on a collateralized basis. A lease asset is recognized based on the lease liability value and adjusted for any prepaid lease payments, initial direct costs, or lease incentive amounts. The lease term at the commencement date includes any renewal options or termination options when it is reasonably certain that the Company will exercise or not exercise those options, respectively.

Right of use assets associated with operating leases are recognized in operating lease assets in the consolidated statements of financial position. Lease liabilities associated with operating leases are recognized in long-term operating lease liabilities, with short-term lease liability amounts included in other current liabilities in the
consolidated statements of financial position. Right of use assets associated with finance leases are included in miscellaneous other assets in the consolidated statements of financial position. Finance lease liabilities are included in the current portion of long-term debt and long-term debt in the consolidated statements of financial position.

Rent expense for operating leases is recognized on a straight-line basis over the lease term and included in cost of sales and service revenues in the consolidated statements of operations and comprehensive income. Variable lease payments are generally recognized to expense as incurred and are not included in the right of use assets or lease liabilities.

The Company elected, for all asset classes, to exclude from its consolidated statements of financial position leases having terms of 12 months or less (short-term leases) and elected not to separate lease and non-lease components in the determination of lease payment obligations for its long-term lease contracts.
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets - The Company performs impairment tests for goodwill annually as of October 31 and between annual impairment tests if an event occurs or circumstances of potential impairment exist that would more likely than not reduce the fair values of the Company's reporting units below their carrying values. The Company's reporting units are aligned with its operating segments. The Company assesses qualitative factors to determine whether it is more likely than not that the fair value of the goodwill allocated to the reporting unit is less than its carrying amount. If the qualitative assessment indicates a possible impairment, the carrying value of the reporting unit is compared to its fair value, which is determined using a combination of discounted cash flow analysis and comparative market multiples. If the fair value is determined to be less than the carrying value, the Company records an impairment charge to the reporting unit.

The Company evaluates the recoverability of its intangible long-lived assets when changes in economic circumstances or business objectives indicate the carrying value may not be recoverable. The Company's purchased intangible assets are amortized on a straight-line basis or a method based on the pattern of benefits over their estimated useful lives.
Equity Method Investments
Equity Method Investments - Investments in which the Company has the ability to exercise significant influence over the investee, but does not own a majority interest or otherwise control, are accounted for under the equity method of accounting and are included in miscellaneous other assets in the consolidated statements of financial position. The Company's equity method investments align strategically and are integrated with the Company's operations. Accordingly, the Company's share of the net earnings or losses of the investee is included in income from operating investments, net within the consolidated statements of operations and comprehensive income. The Company evaluates its equity method investments for other than temporary impairment whenever events or changes in business circumstances indicate that the carrying amounts of such investments may not be fully recoverable. If a decline in the value of an equity method investment is determined to be other than temporary, a loss is recorded in earnings in the current period.

In 2021, the Company contributed its San Diego Shipyard business to a joint venture, Titan Acquisition Holdings, L.P. ("Titan"), in exchange for a 10% non-controlling interest, which was recorded under the equity method of accounting. In 2023, the Company sold its investment in Titan. For the year ended December 31, 2023, the Company received $63 million in proceeds and recognized an immaterial loss on sale.
Self-Insured Workers' Compensation Plan
Self-Insured Group Medical Insurance - The Company maintains a self-insured group medical insurance plan. The plan is designed to provide a specified level of coverage for employees and their dependents. Estimated liabilities for incurred but not paid claims utilize actuarial methods based on various assumptions, which include, but are not limited to, HII's historical loss experience and projected loss development factors. These liabilities are recorded in other current liabilities on the consolidated statements of financial position and are not material as of December 31, 2025 and 2024.

Self-Insured Workers' Compensation Plan - The Company's operations are subject to federal and state workers' compensation laws. The Company maintains self-insured workers' compensation plans and participates in federally administered second injury workers' compensation funds. The Company estimates the liability for claims and funding requirements on a discounted basis utilizing actuarial methods based on various assumptions, which include, but are not limited to, the Company's historical loss experience and projected loss development factors as compiled in an annual actuarial study. Self-insurance accruals include amounts related to liabilities for reported claims and an estimated accrual for claims incurred but not reported. The Company's workers' compensation liability
was discounted at 4.09% and 4.58% as of December 31, 2025 and 2024, respectively. These discount rates were determined using a risk-free rate based on future payment streams. Workers' compensation benefit obligations on an undiscounted basis were $778 million and $780 million as of December 31, 2025 and 2024, respectively.
Litigation, Commitments, and Contingencies
Litigation, Commitments, and Contingencies - Amounts associated with litigation, commitments, and contingencies are recorded as charges to earnings when management, after taking into consideration the facts and circumstances of each matter, including any settlement offers and projected loss or claim development factors, has determined it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated.
Loan Receivable
Loan Receivable - The Company holds a loan receivable in connection with the financing of the sale of its previously owned Avondale Shipyard facility. The loan receivable is reported at amortized cost, net of loan discount, and approximates fair value. The current and non-current portions of the loan receivable are reported in prepaid expenses and other current assets and miscellaneous other assets on the consolidated statements of financial position, respectively. The loan receivable is not material for the years ended December 31, 2025 and 2024.

Interest income is recognized on an accrual basis using the effective yield method and reported within other, net on the consolidated statements of operations and comprehensive income and is not material for the years ended December 31, 2025, 2024, and 2023. The discount is accreted into income using the effective yield method over the estimated life of the loan receivable.
Retirement Related Benefit Costs
Retirement Related Benefit Plans - The Company accounts for its retirement related benefit plans on the accrual basis. The measurements of obligations, costs, assets, and liabilities require significant judgment. The costs of benefits provided by defined benefit pension plans are recorded in the period participating employees provide service. The costs of benefits provided by other postretirement benefit plans are recorded in the period participating employees attain full eligibility. The discount rate assumption is defined under GAAP as the rate at which a plan's obligation could be effectively settled. A discount rate is established for each of the retirement related benefit plans at its respective measurement date.

The expected return on plan assets component of retirement related costs is used to calculate net periodic expense, based on such factors as historical returns, targeted asset allocations, investment policy, duration, expected future long-term performance of individual asset classes, interest rates, inflation, portfolio volatility, investment management and administrative fees, and risk management strategies. Historical plan asset performance alone has inherent limitations in predicting future returns. While studies are helpful in understanding past and current trends and performance, the rate of return assumption is based more on long-term prospective views to avoid short-term market influences. Unless plan assets and benefit obligations are subject to re-measurement during the year, the expected return on plan assets is based on the fair value of plan assets at the beginning of the year.

The costs of plan amendments that provide benefits already earned by plan participants (prior service costs and credits) are deferred in accumulated other comprehensive loss and amortized over the expected future service period of active participants as of the date of amendment. Actuarial gains and losses arising from differences between assumptions and actual experience or changes in assumptions are deferred in accumulated other comprehensive loss. This unrecognized amount is amortized to the extent it exceeds 10% of the greater of the plan's benefit obligation or plan assets. The amortization period for actuarial gains and losses is the estimated remaining service life of the plan participants.

The Company recognizes the funded status of each retirement related benefit plan as an asset or liability in its consolidated statements of financial position. The funded status represents the difference between the plan's benefit obligation and the fair value of the plan's assets. Unrecognized deferred amounts, such as demographic or asset gains or losses and the impacts of plan amendments, are included in accumulated other comprehensive loss and amortized as described above.
Stock Compensation
Stock Compensation - The fair value of stock-based compensation is measured based on the closing market price of the Company's common stock on the grant date. Compensation expense for stock awards is measured based on the grant date fair value and recognized over the vesting period, generally three years. For purposes of measuring compensation expense, the number of shares ultimately expected to vest is estimated at each reporting date based on the Company's expectations regarding the relevant service or performance criteria.
v3.25.4
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Schedule of Depreciable Assets, Straight-Line Method Useful Lives
The remaining assets are depreciated using the straight-line method, with the following lives:
Years
Land improvements2-40
Buildings and improvements2-60
Capitalized software costs3-9
Machinery and other equipment2-40
v3.25.4
Stockholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2025
Stockholders' Equity Note [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]
The changes in accumulated other comprehensive loss by component for the years ended December 31, 2025, 2024, and 2023, were as follows:
($ in millions)Benefit PlansTotal
Balance as of December 31, 2022$(599)$(599)
Other comprehensive income before reclassifications221 221 
Amounts reclassified from accumulated other comprehensive loss
Amortization of prior service cost(1)
15 15 
Amortization of net actuarial loss(1)
2 2 
Tax expense for items of other comprehensive income(61)(61)
Net current period other comprehensive income177 177 
Balance as of December 31, 2023(422)(422)
Other comprehensive income before reclassifications509 509 
Amounts reclassified from accumulated other comprehensive loss
Amortization of prior service cost(1)
14 14 
Amortization of net actuarial loss(1)
5 5 
Tax expense for items of other comprehensive income(134)(134)
Net current period other comprehensive income394 394 
Balance as of December 31, 2024(28)(28)
Other comprehensive loss before reclassifications(37)(37)
Amounts reclassified from accumulated other comprehensive loss
Amortization of prior service cost(1)
16 16 
Amortization of net actuarial gain(1)
(12)(12)
Tax benefit for items of other comprehensive loss8 8 
Net current period other comprehensive loss(25)(25)
Balance as of December 31, 2025$(53)$(53)
(1) These accumulated comprehensive loss components are included in the computation of net periodic benefit cost. See Note 17: Employee Pension and Other Postretirement Benefits. The tax expense recorded in stockholders' equity for the amounts reclassified from accumulated other comprehensive loss for the years ended December 31, 2025, 2024, and 2023, was $1 million, $5 million, and $4 million, respectively.
v3.25.4
Earnings Per Share (Tables)
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Basic and Diluted Earnings Per Share
Basic and diluted earnings per common share were calculated as follows:
 Year Ended December 31
(in millions, except per share amounts)202520242023
Net earnings$605 $550 $681 
Weighted-average common shares outstanding39.3 39.4 39.9 
Net effect of dilutive stock options and awards— — — 
Dilutive weighted-average common shares outstanding39.3 39.4 39.9 
Earnings per share - basic$15.39 $13.96 $17.07 
Earnings per share - diluted$15.39 $13.96 $17.07 
v3.25.4
Revenue (Tables)
 12 Months Ended
Dec. 31, 2025
Disaggregation of Revenue [Abstract]  
Disaggregation of Revenue [Table Text Block]
The following tables present revenues on a disaggregated basis:
Year Ended December 31, 2025
($ in millions)IngallsNewport NewsMission TechnologiesIntersegment EliminationsTotal
Revenue Type
Product sales$2,597 $5,397 $139 $— $8,133 
Service revenues469 1,109 2,773 — 4,351 
Intersegment12 1 132 (145)— 
Sales and service revenues$3,078 $6,507 $3,044 $(145)$12,484 
Customer Type
Federal$3,066 $6,505 $2,899 $— $12,470 
Commercial— 1 12 — 13 
State and local government agencies— — 1 — 1 
Intersegment12 1 132 (145)— 
Sales and service revenues$3,078 $6,507 $3,044 $(145)$12,484 
Contract Type
Firm fixed-price$17 $5 $411 $— $433 
Fixed-price incentive2,581 3,122 4 — 5,707 
Cost-type468 3,379 2,350 — 6,197 
Time and materials— — 147 — 147 
Intersegment12 1 132 (145)— 
Sales and service revenues$3,078 $6,507 $3,044 $(145)$12,484 

Year Ended December 31, 2024
($ in millions)IngallsNewport NewsMission TechnologiesIntersegment EliminationsTotal
Revenue Type
Product sales$2,424 $4,921 $119 $— $7,464 
Service revenues335 1,045 2,691 — 4,071 
Intersegment8 3 127 (138)— 
Sales and service revenues$2,767 $5,969 $2,937 $(138)$11,535 
Customer Type
Federal$2,759 $5,964 $2,804 $— $11,527 
Commercial— 2 5 — 7 
State and local government agencies— — 1 — 1 
Intersegment8 3 127 (138)— 
Sales and service revenues$2,767 $5,969 $2,937 $(138)$11,535 
Contract Type
Firm fixed-price$7 $7 $343 $— $357 
Fixed-price incentive2,417 3,127 9 — 5,553 
Cost-type335 2,832 2,281 — 5,448 
Time and materials— — 177 — 177 
Intersegment8 3 127 (138)— 
Sales and service revenues$2,767 $5,969 $2,937 $(138)$11,535 
Year Ended December 31, 2023
($ in millions)IngallsNewport NewsMission TechnologiesIntersegment EliminationsTotal
Revenue Type
Product sales$2,495 $5,053 $116 $— $7,664 
Service revenues248 1,077 2,465 — 3,790 
Intersegment9 3 118 (130)— 
Sales and service revenues$2,752 $6,133 $2,699 $(130)$11,454 
Customer Type
Federal$2,743 $6,129 $2,558 $— $11,430 
Commercial— 1 22 — 23 
State and local government agencies— — 1 — 1 
Intersegment9 3 118 (130)— 
Sales and service revenues$2,752 $6,133 $2,699 $(130)$11,454 
Contract Type
Firm fixed-price$2 $4 $322 $— $328 
Fixed-price incentive2,497 3,364 6 — 5,867 
Cost-type244 2,762 2,039 — 5,045 
Time and materials— — 214 — 214 
Intersegment9 3 118 (130)— 
Sales and service revenues$2,752 $6,133 $2,699 $(130)$11,454 

Year Ended December 31
($ in millions)202520242023
Major Programs
Amphibious assault ships$1,464 $1,426 $1,511 
Surface combatants and coast guard cutters1,596 1,330 1,225 
Other18 11 16 
Total Ingalls3,078 2,767 2,752 
Aircraft carriers3,390 3,239 3,374 
Submarines2,540 2,206 2,161 
Other577 524 598 
Total Newport News6,507 5,969 6,133 
All-domain operations and warfare systems2,011 1,957 1,717 
Global security, unmanned systems, and other1,033 980 982 
Total Mission Technologies3,044 2,937 2,699 
Intersegment eliminations(145)(138)(130)
Sales and service revenues$12,484 $11,535 $11,454 
Schedule of Change in Accounting Estimate [Table Text Block]
The following table presents the effect of net cumulative catch-up revenue adjustments on operating income and diluted earnings per share:
Year Ended December 31
($ in millions, except per share amounts)202520242023
Effect on operating income$(28)$(126)$118 
Effect on diluted earnings per share$(0.55)$(2.51)$2.33 
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]
Contract assets include retention amounts, substantially all of which were under U.S. Government contracts, and were comprised of the following:
December 31
($ in millions)20252024
Due from U.S. Government$1,723 $1,638 
Due from other customers35 45 
Total contract assets$1,758 $1,683 

The Company reports contract balances in a net contract asset or contract liability position on a contract-by-contract basis at the end of each reporting period. Net contract assets were comprised as follows:
December 31
($ in millions)20252024
Contract assets$1,758 $1,683 
Contract liabilities1,220 774 
Net contract assets$538 $909 
v3.25.4
Segment Information (Tables)
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment Operating Profit (Loss) Reconciliation [Table Text Block]
The following tables present the Company's operating results by segment:
Year Ended December 31, 2025
($ in millions)IngallsNewport NewsMission TechnologiesIntersegment EliminationsTotal
Sales and Service Revenues
Product sales$2,597 $5,397 $139 $— $8,133 
Service revenues469 1,109 2,773 — 4,351 
Intersegment12 1 132 (145)— 
Total sales and service revenues3,078 6,507 3,044 (145)12,484 
Segment Operating Income
Income from operating investments, net— — 46 — 46 
Other income and gains, net— 1 2 — 3 
Less:
Cost of sales and service revenues
Product2,258 4,685 109 — 7,052 
Service409 931 2,472 — 3,812 
Intersegment12 1 132 (145)— 
Other segment items166 560 226 — 952 
Total segment operating income$233 $331 $153 $— $717 
Non-segment factors affecting operating income
Operating FAS/CAS Adjustment(35)
Non-current state income taxes(25)
Total operating income$657 
Year Ended December 31, 2024
($ in millions)IngallsNewport NewsMission TechnologiesIntersegment EliminationsTotal
Sales and Service Revenues
Product sales$2,424 $4,921 $119 $— $7,464 
Service revenues335 1,045 2,691 — 4,071 
Intersegment8 3 127 (138)— 
Total sales and service revenues2,767 5,969 2,937 (138)11,535 
Segment Operating Income
Income from operating investments, net1 — 48 — 49 
Other income and gains, net— 10 (1)— 9 
Less:
Cost of sales and service revenues
Product2,070 4,276 102 — 6,448 
Service294 865 2,416 — 3,575 
Intersegment8 3 127 (138)— 
Other segment items185 589 223 — 997 
Total segment operating income$211 $246 $116 $— $573 
Non-segment factors affecting operating income
Operating FAS/CAS Adjustment(62)
Non-current state income taxes24 
Total operating income$535 

Year Ended December 31, 2023
($ in millions)IngallsNewport NewsMission TechnologiesIntersegment EliminationsTotal
Sales and Service Revenues
Product sales$2,495 $5,053 $116 $— $7,664 
Service revenues248 1,077 2,465 — 3,790 
Intersegment9 3 118 (130)— 
Total sales and service revenues2,752 6,133 2,699 (130)11,454 
Segment Operating Income
Income from operating investments, net— — 37 — 37 
Other income and gains, net71 — 49 — 120 
Less:
Cost of sales and service revenues
Product2,031 4,254 121 — 6,406 
Service207 900 2,223 — 3,330 
Intersegment9 3 118 (130)— 
Other segment items214 597 222 — 1,033 
Total segment operating income$362 $379 $101 $— $842 
Non-segment factors affecting operating income
Operating FAS/CAS Adjustment(72)
Non-current state income taxes11 
Total operating income$781 
Segment Other Significant Items Reconciliation [Table Text Block]
The following tables present the Company's capital expenditures, as presented to the chief operating decision maker, and depreciation and amortization by segment:
Year Ended December 31
($ in millions)202520242023
Capital Expenditures(1)
Ingalls$74 $60 $65 
Newport News303 268 196 
Mission Technologies13 18 11 
Total segment capital expenditures390 346 272 
Corporate6 7 6 
Total capital expenditures$396 $353 $278 
(1) Net of grant proceeds for capital expenditures

Year Ended December 31
($ in millions)202520242023
Depreciation and Amortization
Ingalls$81 $78 $76 
Newport News141 136 150 
Mission Technologies103 110 120 
Total segment depreciation and amortization325 324 346 
Corporate4 2 1 
Total depreciation and amortization$329 $326 $347 
v3.25.4
Accounts Receivable (Tables)
 12 Months Ended
Dec. 31, 2025
Receivables [Abstract]  
Accounts receivable, net
Accounts receivable, net were comprised of the following:
December 31
($ in millions)20252024
Due from U.S. Government$331 $210 
Due from other customers10 4 
Total accounts receivable341 214 
Allowance for expected credit losses(2)(2)
Total accounts receivable, net$339 $212 
v3.25.4
Inventoried Costs (Tables)
 12 Months Ended
Dec. 31, 2025
Inventory Disclosure [Abstract]  
Inventoried costs
Inventoried costs were comprised of the following:
December 31
($ in millions)20252024
Production costs of contracts in process$23 $27 
Raw material inventory196 181 
Total inventoried costs$219 $208 
v3.25.4
Goodwill and Other Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Change in Carrying Amount of Goodwill
For the years ended December 31, 2025 and 2024, the carrying amounts of goodwill were as follows:
($ in millions)IngallsNewport NewsMission TechnologiesTotal
Balance as of December 31, 2023$175 $721 $1,722 $2,618 
Adjustments— — — — 
Balance as of December 31, 2024175 721 1,722 2,618 
Acquisitions— 32 — 32 
Balance as of December 31, 2025$175 $753 $1,722 $2,650 
v3.25.4
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Federal and Foreign Income Tax Expense
Federal and foreign income tax expense for the years ended December 31, 2025, 2024, and 2023, consisted of the following:
Year Ended December 31
($ in millions)202520242023
Income Taxes on Operations
Federal and foreign income taxes currently payable (receivable)$(5)$193 $273 
Change in deferred federal and foreign income taxes177 (100)(101)
Total federal and foreign income taxes$172 $93 $172 
Reconciliation of Income Tax Expense to Federal Statutory Rate
The following table reconciles the Company's actual income tax expense to income tax expense based on the statutory federal corporate income tax rate:
Year Ended December 31
202520242023
($ in millions)DollarsPercentDollarsPercentDollarsPercent
U.S. federal statutory tax rate$163 21.0 %$135 21.0 %$179 21.0 %
Foreign tax effects— — %2 0.3 %— — %
Effect of cross-border tax laws(1)(0.2)%(3)(0.5)%(1)(0.1)%
Tax credits:
Research and development tax credit17 2.2 %(49)(7.6)%(22)(2.6)%
Other(4)(0.5)%(2)(0.3)%(2)(0.2)%
Nontaxable or nondeductible items7 0.9 %1 0.2 %6 0.7 %
Changes in unrecognized tax benefits— — %18 2.8 %10 1.2 %
Interest accrual on tax refunds(7)(0.9)%(8)(1.2)%(6)(0.7)%
Other adjustments(3)(0.4)%(1)(0.2)%8 0.9 %
Effective income tax rate$172 22.1 %$93 14.5 %$172 20.2 %
Schedule of Income Taxes Paid (Refunded)
Cash paid for income taxes (net of refunds) consisted of the following:
December 31
($ in millions)202520242023
Federal$70 $182 $273 
State:
Virginia19 56 30 
Other7 17 26 
Total state26 73 56 
Foreign— — 1 
Cash paid for income taxes (net of refunds)$96 $255 $330 
Change in Unrecognized Tax Benefits
The changes in unrecognized tax benefits (exclusive of interest and penalties) for the years ended December 31, 2025, 2024, and 2023 are summarized in the following table:
December 31
($ in millions)202520242023
Unrecognized tax benefits at beginning of the year$110 $98 $90 
Additions based on tax positions related to the current year5 13 11 
Additions based on tax positions related to prior years1 4 — 
Reductions based on tax positions related to prior years(7)— — 
Lapse of statute of limitations(4)(5)(3)
Net change in unrecognized tax benefits(5)12 8 
Unrecognized tax benefits at end of the year$105 $110 98 
Summary of Income Tax Examinations
The following table summarizes the tax years that are either currently under examination or remain open under the applicable statute of limitations and subject to examination by the major tax jurisdictions in which the Company operates:
JurisdictionYears
United States - Federal(1)
2016-2024
Connecticut2022-2024
Mississippi2022-2024
Virginia2022-2024
(1) Returns for the 2016, 2018, 2019, 2021, and 2022 tax years were filed under the Compliance Assurance Process ("CAP") program and accepted by the Internal Revenue Service ("IRS") with the exception of the R&D tax credit. The 2017 tax year was also filed under the CAP program and was accepted by the IRS with the exception of the manufacturing deduction and the R&D tax credit. The 2023 tax year was filed under the CAP program and accepted by the IRS with the exception of the R&D tax credit and capitalized R&D expenses. The statute of limitations for the 2020 and 2021 tax years has been extended to June 30, 2027.
Net Deferred Tax Assets
The tax effects of significant temporary differences and carry-forwards that resulted in year-end deferred tax balances, as presented in the consolidated statements of financial position, were as follows:
December 31
($ in millions)20252024
Deferred Tax Assets
Workers' compensation$154 $150 
Operating lease liabilities71 67 
Reserves not currently deductible for tax purposes72 71 
Stock compensation9 8 
Net operating losses, tax credit and other carry-forwards30 33 
Capitalized research and development expenses152 315 
Other15 11 
Gross deferred tax assets503 655 
Less valuation allowance25 26 
Net deferred tax assets478 629 
Deferred Tax Liabilities
Depreciation and amortization465 457 
Contract accounting differences57 47 
Purchased intangibles198 212 
Operating lease assets67 62 
Retirement benefits248 216 
Other15 13 
Gross deferred tax liabilities1,050 1,007 
Total net deferred tax liabilities$(572)$(378)
v3.25.4
Debt (Tables)
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Long-term Debt
The Company's long-term debt consisted of the following:
December 31
($ in millions)20252024
Senior notes due May 1, 2025, 3.844%$— $500 
Senior notes due December 1, 2027, 3.483%600 600 
Senior notes due August 16, 2028, 2.043%600 600 
Senior notes due January 15, 2030, 5.353%500 500 
Senior notes due May 1, 2030, 4.200%500 500 
Senior notes due January 15, 2035, 5.749%500 500 
Gulf opportunity zone industrial development revenue bonds due December 1, 2028, 4.55%21 21 
Finance lease obligations— 9 
Less unamortized debt issuance costs(21)(27)
Total long-term debt$2,700 $3,203 
Less current portion— 503 
Long-term debt, net of current portion$2,700 $2,700 
v3.25.4
Leases (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Components of Lease Expense
The following table presents costs and other information related to the Company's leases:
Year Ended December 31
($ in millions)202520242023
Operating lease costs$72 $72 $67 
Short-term operating lease costs$61 $57 $54 
Variable operating lease costs$5 $5 $7 
Operating cash flows from operating leases$(73)$(70)$(66)
Right-of-use assets obtained in exchange for new operating lease liabilities$91 $41 $80 
Weighted-average remaining lease term (years) - operating leases8 years8 years9 years
Weighted-average discount rate - operating leases5.4 %5.2 %5.0 %
Lessee, Operating Lease, Liability, Maturity
The undiscounted future non-cancellable lease payments under the Company's operating leases as of December 31, 2025, were as follows:
($ in millions)December 31, 2025
2026$71 
202761 
202848 
202941 
203034 
Thereafter95 
Total lease payments350 
Less: Imputed interest69 
Present value of operating lease liabilities$281 
Reconciliation of Operating Lease Liability Recognized in Statement of Financial Position
Lease liabilities included in the Company's consolidated statements of financial position as of December 31, 2025 and 2024, were as follows:
December 31
($ in millions)20252024
Short-term operating lease liabilities$58 $51 
Long-term operating lease liabilities223 205 
Total operating lease liabilities$281 $256 
v3.25.4
Employee Pension and Other Postretirement Benefits Employee Pension and Other Postretirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Schedule of Net Benefit Costs The costs of the Company's defined benefit pension plans and other postretirement benefit plans for the years ended December 31, 2025, 2024, and 2023, were as follows:
Pension BenefitsOther Benefits
Year Ended December 31Year Ended December 31
($ in millions)202520242023202520242023
Components of net periodic benefit cost
Service cost$86 $109 $112 $4 $6 $6 
Interest cost336 321 343 19 19 21 
Expected return on plan assets(549)(538)(529)— — — 
Amortization of prior service cost (credit)17 16 17 (1)(2)(2)
Amortization of net actuarial loss (gain)1 18 17 (13)(13)(15)
Net periodic benefit (income) cost$(109)$(74)$(40)$9 $10 $10 
Schedule of Defined Benefit Plans Disclosures
The funded status of these plans as of December 31, 2025 and 2024, was as follows:
 Pension Benefits Other Benefits
December 31December 31
($ in millions)2025202420252024
Change in benefit obligation
Benefit obligation at beginning of year$5,791 $6,242 $333 $370 
Service cost86 109 4 6 
Interest cost336 321 19 19 
Plan participants' contributions5 5 9 9 
Plan amendments3 — — — 
Actuarial loss (gain)218 (499)3 (26)
Benefits paid(333)(307)(49)(45)
Settlement— (80)— — 
Benefit obligation at end of year6,106 5,791 319 333 
Change in plan assets
Fair value of plan assets at beginning of year7,024 6,873 — — 
Actual return on plan assets736 514 — — 
Employer contributions14 11 40 36 
Plan participants' contributions5 5 9 9 
Benefits paid(333)(307)(49)(45)
Transfers— 2 — — 
Settlement— (74)— — 
Fair value of plan assets at end of year7,446 7,024 — — 
Funded status$1,340 $1,233 $(319)$(333)
Amounts recognized in the consolidated statements of financial position:
Pension plan assets$1,544 $1,422 $— $— 
Current liability (1)
(49)(47)(119)(124)
Non-current liability (2)
(155)(142)(200)(209)
Accumulated other comprehensive loss (income) (pre-tax) related to:
Prior service costs (credits)108 122 (10)(11)
Net actuarial loss (gain)90 60 (103)(119)
(1)    Included in other current liabilities and current portion of postretirement plan liabilities for pension benefits and other benefits, respectively.
(2)     Included in pension plan liabilities and other postretirement plan liabilities for pension benefits and other benefits, respectively.
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)
The changes in amounts recorded in accumulated other comprehensive loss were as follows:
Pension BenefitsOther Benefits
Year Ended December 31Year Ended December 31
($ in millions)202520242023202520242023
Prior service cost$(3)$— $— $— $— $— 
Amortization of prior service cost (credit)17 16 17 (1)(2)(2)
Net actuarial gain (loss)(31)475 202 (3)26 19 
Amortization of net actuarial loss (gain)1 18 17 (13)(13)(15)
Other— 9 — — (1)— 
Total changes in accumulated other comprehensive loss$(16)$518 $236 $(17)$10 $2 
Schedule of Assumptions Used and Health Care Cost Trend Rates
The weighted average assumptions used to determine the net periodic benefit costs for each year ended December 31 were as follows:
 Pension Benefits
202520242023
Discount rate5.98 %5.28 %5.47 %
Expected long-term rate on plan assets8.00 %8.00 %8.00 %
Rate of compensation increase3.76 %3.63 %3.63 %
 Other Benefits
202520242023
Discount rate5.79 %5.35 %5.50 %
Initial health care cost trend rate assumed for next year6.00 %6.00 %6.00 %
Gradually declining to a rate of4.50 %4.50 %4.50 %
Year in which the rate reaches the ultimate rate2030 2029 2028 

The weighted average assumptions used to determine the benefit obligations as of December 31 of each year were as follows:
 Pension Benefits Other Benefits
December 31December 31
2025202420252024
Discount rate5.72 %5.98 %5.42 %5.79 %
Weighted average interest crediting rate3.57 %3.54 %
Rate of compensation increase3.77 %3.76 %
Initial health care cost trend rate assumed for next year6.50 %6.00 %
Gradually declining to a rate of4.50 %4.50 %
Year in which the rate reaches the ultimate rate2031 2030 
Schedule of Defined Benefit Plans Disclosures, Cash Contributions The Company made the following contributions to its defined benefit pension plans and other postretirement benefit plans for the years ended December 31, 2025, 2024, and 2023:
Year Ended December 31
($ in millions)202520242023
Pension plans
Discretionary
Qualified$— $— $— 
Non-qualified14 11 12 
Other benefit plans40 36 32 
Total contributions$54 $47 $44 
Schedule of Expected Benefit Payments and Prescription Drug Subsidy Receipts
The following table presents estimated future benefit payments, using the same assumptions used in determining the Company's benefit obligations, as of December 31, 2025. Benefit payments depend on future employment and compensation levels, years of service, and mortality. Changes in any of these factors could significantly affect these estimated amounts.
($ in millions)Pension BenefitsOther Benefit Payments
2026$366 $35 
2027384 34 
2028401 32 
2029415 31 
2030427 29 
Years 2031 to 2035$2,258 $124 
Schedule of Allocation of Plan Assets The Investment Committee set the minimum and maximum permitted values for each asset class in the Company's pension plan master trust for the year ended December 31, 2025, as follows:
Range
U.S. and international equities25 -35%
Fixed income securities35 -45%
Alternative investments25 -35%
Schedule of Level Three Defined Benefit Plan Assets Roll Forward
Certain investments that are measured at fair value using NAV per share (or its equivalent) as a practical expedient are not required to be categorized in the fair value hierarchy table. The total fair value of these investments is included in the table below to permit reconciliation of the fair value hierarchy to amounts presented in the funded status table above.
December 31, 2025
($ in millions)TotalLevel 1Level 2Level 3
Plan assets subject to leveling
U.S. and international equities$1,624 $1,624 $— $— 
Government and agency debt securities1,154 — 1,154 — 
Corporate and other debt securities1,696 — 1,696 — 
Group annuity contract3 — 3 — 
Cash and cash equivalents, net8 8 — — 
Net plan assets subject to leveling$4,485 $1,632 $2,853 $— 
Plan assets not subject to leveling
U.S. and international equities(1)
810 
Corporate and other debt securities277 
Real estate investments376 
Private partnerships962 
Hedge funds422 
Cash and cash equivalents, net(2)
114 
Total plan assets not subject to leveling2,961 
Net plan assets$7,446 
(1) U.S. and international equity securities include investments in small, medium, and large capitalization stocks of public companies held in commingled trust funds.
(2) Cash and cash equivalents are liquid short-term investment funds and include net receivables and payables of the trust. These funds are available for immediate use to fund daily operations, execute investment policies, and serve as a temporary investment vehicle.
December 31, 2024
($ in millions)TotalLevel 1Level 2Level 3
Plan assets subject to leveling
U.S. and international equities$1,499 $1,499 $— $— 
Government and agency debt securities777 — 777 — 
Corporate and other debt securities1,487 — 1,487 — 
Group annuity contract3 — 3 — 
Cash and cash equivalents, net21 21 — — 
Net plan assets subject to leveling$3,787 $1,520 $2,267 $— 
Plan assets not subject to leveling
U.S. and international equities(1)
1,199 
Corporate and other debt securities242 
Real estate investments469 
Private partnerships926 
Hedge funds275 
Cash and cash equivalents, net(2)
126 
Total plan assets not subject to leveling3,237 
Net plan assets$7,024 
(1) U.S. and international equity securities include investments in small, medium, and large capitalization stocks of public companies held in commingled trust funds.
(2) Cash and cash equivalents are liquid short-term investment funds and include net receivables and payables of the trust. These funds are available for immediate use to fund daily operations, execute investment policies, and serve as a temporary investment vehicle.
v3.25.4
Stock Compensation Plans (Tables)
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Status of Stock Awards
Stock award activity for the years ended December 31, 2025, 2024, and 2023, was as follows:
Stock Awards
(in thousands)
Weighted-Average
Grant Date Fair
Value
Weighted
Average
Remaining
Contractual Term
Outstanding as of December 31, 2022506 $189.68 1.0 year
Granted177 215.16 
Adjustment due to performance32 224.35 
Vested(155)224.35 
Forfeited(25)178.68 
Outstanding as of December 31, 2023535 189.98 1.0 year
Granted174 286.14 
Adjustment due to performance61 181.76 
Vested(206)181.76 
Forfeited(14)240.77 
Outstanding as of December 31, 2024550 221.59 1.0 year
Granted316 172.05 
Adjustment due to performance21 215.47 
Vested(194)215.47 
Forfeited(30)219.31 
Outstanding as of December 31, 2025663 $199.43 1.0 year
v3.25.4
Description of Business (Narrative) (Details)
 12 Months Ended
Dec. 31, 2025
segments
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Number of operating segments 3
v3.25.4
Summary of Significant Accounting Policies (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Accounting Policies [Abstract]      
Independent research and development $ 26 $ 27 $ 35
Assets Held-in-trust [Abstract]      
Assets held in rabbi trusts 249 233  
Deferred tax asset valuation allowance $ 25 $ 26  
Percent likliehood of unfavorable settlement of uncertain income tax benefit 50.00%    
Workers' Compensation Discount, Percent 4.09% 4.58%  
Workers' compensation benefit obligations on an undiscounted basis $ 778 $ 780  
Concentration Risk [Line Items]      
Amortization threshold for actuarial gains (losses) 10.00%    
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period 3 years    
Titan Acquisition Holdings, L.P.      
Concentration Risk [Line Items]      
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners     10.00%
Proceeds from Sale of Equity Method Investments     $ 63
Maximum      
Concentration Risk [Line Items]      
Maturity period of cash equivalents 90 days    
Cloud Computing Arrangement, Term 10 years    
Maximum | Capitalized software costs      
Concentration Risk [Line Items]      
Property, Plant and Equipment, Useful Life 9 years    
Minimum      
Concentration Risk [Line Items]      
Operating Cycle 1 year    
Minimum | Capitalized software costs      
Concentration Risk [Line Items]      
Property, Plant and Equipment, Useful Life 3 years    
v3.25.4
Summary of Significant Accounting Policies Schedule of Depreciable Assets (Table) (Details)
Dec. 31, 2025
Land improvements | Minimum  
Property, Plant and Equipment  
Useful life 2 years
Land improvements | Maximum  
Property, Plant and Equipment  
Useful life 40 years
Buildings and improvements | Minimum  
Property, Plant and Equipment  
Useful life 2 years
Buildings and improvements | Maximum  
Property, Plant and Equipment  
Useful life 60 years
Capitalized software costs | Minimum  
Property, Plant and Equipment  
Useful life 3 years
Capitalized software costs | Maximum  
Property, Plant and Equipment  
Useful life 9 years
Machinery and other equipment | Minimum  
Property, Plant and Equipment  
Useful life 2 years
Machinery and other equipment | Maximum  
Property, Plant and Equipment  
Useful life 40 years
v3.25.4
Acquisitions (Narrative) (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
Business Acquisition and Divestiture [Line Items]  
Goodwill, Acquired During Period $ 32
W International  
Business Acquisition and Divestiture [Line Items]  
Payments to Acquire Businesses, Gross 132
Goodwill, Acquired During Period $ 32
v3.25.4
Stockholders' Equity (Narrative) (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Jan. 30, 2024
Nov. 05, 2019
Class of Stock [Line Items]                  
Amount authorized for stock repurchase program               $ 3,800 $ 3,200
Repurchased shares of treasury stock           607,841 337,007    
Treasury stock activity           $ 163 $ 75    
Share Repurchase Program, Excise Tax           $ 1      
Dividends declared per share $ 1.38 $ 1.35 $ 1.30 $ 1.24 $ 5.43 $ 5.25 $ 5.02    
Dividends declared         $ 213 $ 206 $ 200    
Accumulated other comprehensive income (loss) $ (53) $ (28) $ (422) $ (599) (53) (28) (422)    
Defined Benefit Plans                  
Class of Stock [Line Items]                  
Accumulated other comprehensive income (loss) $ (53) $ (28) $ (422) $ (599) $ (53) $ (28) $ (422)    
v3.25.4
Stockholders' Equity Accumulated Other Comprehensive Income (Loss) (Table) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Balance, beginning $ (28) $ (422) $ (599)
Other comprehensive income (loss) before reclassifications (37) 509 221
Amortization of prior service cost (credit) [1] 16 14 15
Amortization of net actuarial loss (gain) [1] (12) 5 2
Tax benefit (expense) for items of other comprehensive income 8 (134) (61)
Net current period other comprehensive income (loss) (25) 394 177
Balance, ending (53) (28) (422)
Defined Benefit Plans      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Balance, beginning (28) (422) (599)
Other comprehensive income (loss) before reclassifications (37) 509 221
Amortization of prior service cost (credit) [1] 16 14 15
Amortization of net actuarial loss (gain) [1] (12) 5 2
Tax benefit (expense) for items of other comprehensive income 8 (134) (61)
Net current period other comprehensive income (loss) (25) 394 177
Balance, ending (53) (28) (422)
Reclassification out of Accumulated Other Comprehensive Income [Member]      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Tax benefit (expense) for items of other comprehensive income $ (1) $ (5) $ (4)
[1] These accumulated comprehensive loss components are included in the computation of net periodic benefit cost. See Note 17: Employee Pension and Other Postretirement Benefits. The tax expense recorded in stockholders' equity for the amounts reclassified from accumulated other comprehensive loss for the years ended December 31, 2025, 2024, and 2023, was $1 million, $5 million, and $4 million, respectively.
v3.25.4
Basic and Diluted Earnings Per Share (Table) (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Earnings Per Share [Abstract]      
Net earnings (loss) $ 605 $ 550 $ 681
Weighted-average common shares outstanding (in shares) 39.3 39.4 39.9
Dilutive weighted average common shares outstanding (in shares) 39.3 39.4 39.9
Earnings (loss) per share - basic (in dollars per share) $ 15.39 $ 13.96 $ 17.07
Earnings (loss) per share - diluted (in dollars per share) $ 15.39 $ 13.96 $ 17.07
v3.25.4
Earnings Per Share (Narrative) (Details) - shares
shares in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Restricted performance stock rights      
Securities Excluded from Computation of Earnings Per Share      
Numbers of shares of securities excluded from computation of earnings per share 0.4 0.4 0.4
Restricted stock rights      
Securities Excluded from Computation of Earnings Per Share      
Numbers of shares of securities excluded from computation of earnings per share 0.1 0.1  
v3.25.4
Revenue (Table) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Disaggregation of Revenue [Line Items]      
Sales and service revenues $ 12,484 $ 11,535 $ 11,454
Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 12,484 11,535 11,454
Intersegment Eliminations [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues (145) (138) (130)
Fixed-price Contract [Member] | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 433 357 328
Fixed-price incentive [Member] | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 5,707 5,553 5,867
Cost-type [Member] | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 6,197 5,448 5,045
Time-and-materials Contract [Member] | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 147 177 214
U.S. Federal Government [Member] | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 12,470 11,527 11,430
Commercial [Member] | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 13 7 23
State and Local Government agency [Member] | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 1 1 1
Product [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 8,133 7,464 7,664
Product [Member] | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 8,133 7,464 7,664
Service [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 4,351 4,071 3,790
Service [Member] | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 4,351 4,071 3,790
Ingalls [Member] | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 3,078 2,767 2,752
Ingalls [Member] | Intersegment Eliminations [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 12 8 9
Ingalls [Member] | Amphibious assault ships [Member] | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 1,464 1,426 1,511
Ingalls [Member] | Surface combatants and coast guard cutters [Member] | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 1,596 1,330 1,225
Ingalls [Member] | Other programs [Member] | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 18 11 16
Ingalls [Member] | Fixed-price Contract [Member] | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 17 7 2
Ingalls [Member] | Fixed-price incentive [Member] | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 2,581 2,417 2,497
Ingalls [Member] | Cost-type [Member] | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 468 335 244
Ingalls [Member] | U.S. Federal Government [Member] | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 3,066 2,759 2,743
Ingalls [Member] | Product [Member] | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 2,597 2,424 2,495
Ingalls [Member] | Service [Member] | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 469 335 248
Newport News Shipbuilding [Member] | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 6,507 5,969 6,133
Newport News Shipbuilding [Member] | Intersegment Eliminations [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 1 3 3
Newport News Shipbuilding [Member] | Aircraft carriers [Member] | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 3,390 3,239 3,374
Newport News Shipbuilding [Member] | Submarines [Member] | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 2,540 2,206 2,161
Newport News Shipbuilding [Member] | Other programs [Member] | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 577 524 598
Newport News Shipbuilding [Member] | Fixed-price Contract [Member] | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 5 7 4
Newport News Shipbuilding [Member] | Fixed-price incentive [Member] | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 3,122 3,127 3,364
Newport News Shipbuilding [Member] | Cost-type [Member] | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 3,379 2,832 2,762
Newport News Shipbuilding [Member] | U.S. Federal Government [Member] | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 6,505 5,964 6,129
Newport News Shipbuilding [Member] | Commercial [Member] | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 1 2 1
Newport News Shipbuilding [Member] | Product [Member] | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 5,397 4,921 5,053
Newport News Shipbuilding [Member] | Service [Member] | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 1,109 1,045 1,077
Mission Technologies [Member] | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 3,044 2,937 2,699
Mission Technologies [Member] | Intersegment Eliminations [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 132 127 118
Mission Technologies [Member] | All-Domain Operations & Warfare Systems | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 2,011 1,957 1,717
Mission Technologies [Member] | Global Security, Unmanned Systems, and Other | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 1,033 980 982
Mission Technologies [Member] | Fixed-price Contract [Member] | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 411 343 322
Mission Technologies [Member] | Fixed-price incentive [Member] | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 4 9 6
Mission Technologies [Member] | Cost-type [Member] | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 2,350 2,281 2,039
Mission Technologies [Member] | Time-and-materials Contract [Member] | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 147 177 214
Mission Technologies [Member] | U.S. Federal Government [Member] | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 2,899 2,804 2,558
Mission Technologies [Member] | Commercial [Member] | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 12 5 22
Mission Technologies [Member] | State and Local Government agency [Member] | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 1 1 1
Mission Technologies [Member] | Product [Member] | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues 139 119 116
Mission Technologies [Member] | Service [Member] | Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Sales and service revenues $ 2,773 $ 2,691 $ 2,465
v3.25.4
Revenue (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenue Recognition and Deferred Revenue [Abstract]      
Revenue, Remaining Performance Obligation, Amount $ 53,100    
Revenue, performance obligation, recognition percentage, year one 21.00%    
Revenue, performance obligation, recognition percentage, year three 35.00%    
Contract with Customer, Liability, Revenue Recognized $ 619 $ 938 $ 690
Change in Accounting Estimate [Line Items]      
Operating income (loss) 657 535 781
Contracts Accounted for under Percentage of Completion      
Change in Accounting Estimate [Line Items]      
Operating income (loss) (28) $ (126) $ 118
NNS CVN 80 & CVN 81 | Contracts Accounted for under Percentage of Completion      
Change in Accounting Estimate [Line Items]      
Operating income (loss) $ (71)    
v3.25.4
Change in Accounting Estimate (Table) (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Change in Accounting Estimate [Line Items]      
Operating income (loss) $ 657 $ 535 $ 781
Diluted earnings (loss) per share $ 15.39 $ 13.96 $ 17.07
Contracts Accounted for under Percentage of Completion      
Change in Accounting Estimate [Line Items]      
Operating income (loss) $ (28) $ (126) $ 118
Diluted earnings (loss) per share $ (0.55) $ (2.51) $ 2.33
v3.25.4
Contract Asset (Table) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Contract assets $ 1,758 $ 1,683
Due From U.S. Government    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Contract assets 1,723 1,638
Due From Other Customers    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Contract assets $ 35 $ 45
v3.25.4
Net Contract Asset (Table) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Contract assets $ 1,758 $ 1,683
Contract liabilities 1,220 774
Net contract assets $ 538 $ 909
v3.25.4
Segment Information (Narrative) (Details)
 12 Months Ended
Dec. 31, 2025
segments
Segment Reporting Information [Line Items]  
Number of operating segments 3
Number of Reportable Segments 3
v3.25.4
Segment Operating Profit (Loss) Reconciliation (Table) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Sales and service revenues $ 12,484 $ 11,535 $ 11,454
Income (loss) from operating investments, net 46 49 37
Other income and gains, net 3 9 120
Operating income (loss) 657 535 781
Product [Member]      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Sales and service revenues 8,133 7,464 7,664
Cost of sales and services revenues 7,081 6,500 6,467
Service [Member]      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Sales and service revenues 4,351 4,071 3,790
Cost of sales and services revenues 3,818 3,585 3,341
Intersegment Eliminations [Member]      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Sales and service revenues (145) (138) (130)
Cost of sales and services revenues (145) (138) (130)
Operating Segments [Member]      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Sales and service revenues 12,484 11,535 11,454
Income (loss) from operating investments, net 46 49 37
Other income and gains, net 3 9 120
Other segment items 952 997 1,033
Operating income (loss) 717 573 842
Operating Segments [Member] | Product [Member]      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Sales and service revenues 8,133 7,464 7,664
Cost of sales and services revenues 7,052 6,448 6,406
Operating Segments [Member] | Service [Member]      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Sales and service revenues 4,351 4,071 3,790
Cost of sales and services revenues 3,812 3,575 3,330
Segment Reporting, Reconciling Item, Corporate Nonsegment      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
FAS/CAS Adjustment (35) (62) (72)
Deferred state income taxes (25) 24 11
Ingalls [Member] | Intersegment Eliminations [Member]      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Sales and service revenues 12 8 9
Cost of sales and services revenues 12 8 9
Ingalls [Member] | Operating Segments [Member]      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Sales and service revenues 3,078 2,767 2,752
Income (loss) from operating investments, net   1  
Other income and gains, net     71
Other segment items 166 185 214
Operating income (loss) 233 211 362
Ingalls [Member] | Operating Segments [Member] | Product [Member]      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Sales and service revenues 2,597 2,424 2,495
Cost of sales and services revenues 2,258 2,070 2,031
Ingalls [Member] | Operating Segments [Member] | Service [Member]      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Sales and service revenues 469 335 248
Cost of sales and services revenues 409 294 207
Newport News Shipbuilding [Member] | Intersegment Eliminations [Member]      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Sales and service revenues 1 3 3
Cost of sales and services revenues 1 3 3
Newport News Shipbuilding [Member] | Operating Segments [Member]      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Sales and service revenues 6,507 5,969 6,133
Other income and gains, net 1 10  
Other segment items 560 589 597
Operating income (loss) 331 246 379
Newport News Shipbuilding [Member] | Operating Segments [Member] | Product [Member]      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Sales and service revenues 5,397 4,921 5,053
Cost of sales and services revenues 4,685 4,276 4,254
Newport News Shipbuilding [Member] | Operating Segments [Member] | Service [Member]      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Sales and service revenues 1,109 1,045 1,077
Cost of sales and services revenues 931 865 900
Mission Technologies [Member] | Intersegment Eliminations [Member]      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Sales and service revenues 132 127 118
Cost of sales and services revenues 132 127 118
Mission Technologies [Member] | Operating Segments [Member]      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Sales and service revenues 3,044 2,937 2,699
Income (loss) from operating investments, net 46 48 37
Other income and gains, net 2 (1) 49
Other segment items 226 223 222
Operating income (loss) 153 116 101
Mission Technologies [Member] | Operating Segments [Member] | Product [Member]      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Sales and service revenues 139 119 116
Cost of sales and services revenues 109 102 121
Mission Technologies [Member] | Operating Segments [Member] | Service [Member]      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Sales and service revenues 2,773 2,691 2,465
Cost of sales and services revenues $ 2,472 $ 2,416 $ 2,223
v3.25.4
Segment Information Segment Other Significant Items Reconciliation (Table) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting, Other Significant Reconciling Item [Line Items]      
Capital Expenditures [1] $ 396 $ 353 $ 278
Depreciation and amortization 329 326 347
Operating Segments [Member]      
Segment Reporting, Other Significant Reconciling Item [Line Items]      
Capital Expenditures [1] 390 346 272
Depreciation and amortization 325 324 346
Segment Reporting, Reconciling Item, Corporate Nonsegment      
Segment Reporting, Other Significant Reconciling Item [Line Items]      
Capital Expenditures [1] 6 7 6
Depreciation and amortization 4 2 1
Ingalls [Member] | Operating Segments [Member]      
Segment Reporting, Other Significant Reconciling Item [Line Items]      
Capital Expenditures [1] 74 60 65
Depreciation and amortization 81 78 76
Newport News Shipbuilding [Member] | Operating Segments [Member]      
Segment Reporting, Other Significant Reconciling Item [Line Items]      
Capital Expenditures [1] 303 268 196
Depreciation and amortization 141 136 150
Mission Technologies [Member] | Operating Segments [Member]      
Segment Reporting, Other Significant Reconciling Item [Line Items]      
Capital Expenditures [1] 13 18 11
Depreciation and amortization $ 103 $ 110 $ 120
[1] Net of grant proceeds for capital expenditures
v3.25.4
Accounts Receivable, Net (Table) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accounts receivable $ 341 $ 214
Allowance for expected credit losses (2) (2)
Total accounts receivable, net 339 212
Due From U.S. Government    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amounts billed 331 210
Due From Other Customers    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amounts billed $ 10 $ 4
v3.25.4
Inventoried Costs (Table) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Inventory Disclosure [Abstract]    
Production costs of contracts in process $ 23 $ 27
Raw material inventory 196 181
Total inventoried costs $ 219 $ 208
v3.25.4
Goodwill (Narrative) (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
reporting_unit
Dec. 31, 2024
USD ($)
reporting_unit
Oct. 31, 2025
Goodwill [Line Items]      
Number of Reporting Units | reporting_unit 3 3  
Accumulated goodwill impairment losses $ 2,755 $ 2,755  
Ingalls [Member] | Operating Segments [Member]      
Goodwill [Line Items]      
Accumulated goodwill impairment losses 1,568 1,568  
Newport News Shipbuilding [Member] | Operating Segments [Member]      
Goodwill [Line Items]      
Accumulated goodwill impairment losses $ 1,187 $ 1,187  
Minimum      
Goodwill [Line Items]      
Minimum excess of fair value over carrying value     10.00%
v3.25.4
Change in Carrying Amount of Goodwill (Table) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Goodwill [Roll Forward]    
Goodwill, Beginning Balance $ 2,618 $ 2,618
Adjustments   0
Acquisitions 32  
Goodwill, Ending Balance 2,650 2,618
Ingalls [Member] | Operating Segments [Member]    
Goodwill [Roll Forward]    
Goodwill, Beginning Balance 175 175
Adjustments   0
Goodwill, Ending Balance 175 175
Newport News Shipbuilding [Member] | Operating Segments [Member]    
Goodwill [Roll Forward]    
Goodwill, Beginning Balance 721 721
Adjustments   0
Acquisitions 32  
Goodwill, Ending Balance 753 721
Mission Technologies [Member] | Operating Segments [Member]    
Goodwill [Roll Forward]    
Goodwill, Beginning Balance 1,722 1,722
Adjustments   0
Goodwill, Ending Balance $ 1,722 $ 1,722
v3.25.4
Other Intangible Assets (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]      
Aggregate weighted-average amortization period 28 years    
Aggregate amortization expense $ 104 $ 109 $ 128
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]      
2026 84    
2027 62    
2028 56    
2029 50    
2030 $ 41    
v3.25.4
Income Taxes (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]      
Effective income tax rate 22.10% 14.50% 20.20%
Unrecognized Tax Benefits that Would Impact Effective Tax Rate $ 86 $ 91 $ 76
Unrecognized Tax Benefits, Income Tax Interest Accrued 20 14 9
Investments, Owned, Federal Income Tax Note [Line Items]      
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense 6 $ 5 $ 4
Public Law 119-21 - R&D Expenditures      
Investments, Owned, Federal Income Tax Note [Line Items]      
Current Income Tax Expense (Benefit) (115)    
Increase (Decrease) in Income Taxes Receivable 115    
Increase (Decrease) in Deferred Income Taxes 115    
Public Law 119-21 - Bonus Depreciation      
Investments, Owned, Federal Income Tax Note [Line Items]      
Current Income Tax Expense (Benefit) (16)    
Increase (Decrease) in Income Taxes Receivable 16    
Increase (Decrease) in Deferred Income Taxes $ 16    
Minimum | Public Law 119-21 - R&D Expenditures      
Investments, Owned, Federal Income Tax Note [Line Items]      
OBBBA Unamortized tax expenditures, deduction period 1 year    
Maximum | Public Law 119-21 - R&D Expenditures      
Investments, Owned, Federal Income Tax Note [Line Items]      
OBBBA Unamortized tax expenditures, deduction period 2 years    
v3.25.4
Federal Income Tax Expense (Table) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Federal Income Tax Expense (Benefit), Continuing Operations [Abstract]      
Federal and foreign income taxes currently payable (receivable) $ (5) $ 193 $ 273
Change in deferred federal and foreign income taxes 177 (100) (101)
Total federal and foreign income taxes $ 172 $ 93 $ 172
v3.25.4
Reconciliation of Income Tax expense to Federal Statutory Rate (Table) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Effective Federal Income Tax Reconciliation [Abstract]      
U.S. federal statutory tax rate $ 163 $ 135 $ 179
U.S. federal statutory tax rate, percent 21.00% 21.00% 21.00%
Foreign tax effects   $ 2  
Foreign tax effects, percent   0.30%  
Effect of cross-border tax laws $ (1) $ (3) $ (1)
Effect of cross-border tax laws, percent (0.20%) (0.50%) (0.10%)
Effective Income Tax Rate Reconciliation, Tax Credit, Research, Amount $ 17 $ (49) $ (22)
Effective Income Tax Rate Reconciliation, Tax Credit, Research, Percent 2.20% (7.60%) (2.60%)
Other tax credits $ (4) $ (2) $ (2)
Other tax credits, percent (0.50%) (0.30%) (0.20%)
Nontaxable or nondeductible items $ 7 $ 1 $ 6
Nontaxable or nondeductible items, percent 0.90% 0.20% 0.70%
Change in unrecognized tax benefits   $ 18 $ 10
Change in unrecognized tax benefits, percent   2.80% 1.20%
Interest accrual on tax refunds $ (7) $ (8) $ (6)
Interest accrual on tax refunds, percent (0.90%) (1.20%) (0.70%)
Other adjustments $ (3) $ (1) $ 8
Other adjustments, percent (0.40%) (0.20%) 0.90%
Total federal and foreign income taxes $ 172 $ 93 $ 172
Effective income tax rate, percent 22.10% 14.50% 20.20%
v3.25.4
Schedule of Income Taxes Paid (Refunded) (Table) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Federal $ 70 $ 182 $ 273
State 26 73 56
Foreign     1
Cash paid for income taxes (net of refunds) 96 255 330
VIRGINIA      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
State 19 56 30
OTHER      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
State $ 7 $ 17 $ 26
v3.25.4
Change in Unrecognized Tax Benefits (Table) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Unrecognized Tax Benefits [Roll Forward]      
Unrecognized tax benefits at beginning of the year $ 110 $ 98 $ 90
Additions based on tax positions related to the current year 5 13 11
Additions based on tax positions related to prior years 1 4  
Reductions based on tax positions related to prior years (7)    
Lapse of statute of limitations (4) (5) (3)
Net change in unrecognized tax benefits (5) 12 8
Unrecognized tax benefits at end of the year $ 105 $ 110 $ 98
v3.25.4
Summary of Income Tax Examinations (Table) (Details)
 12 Months Ended
Dec. 31, 2025
UNITED STATES - Federal | Minimum  
Income Tax Examination [Line Items]  
Income Tax Examination, Year under Examination 2016 [1]
UNITED STATES - Federal | Maximum  
Income Tax Examination [Line Items]  
Income Tax Examination, Year under Examination 2024 [1]
CONNECTICUT | Minimum  
Income Tax Examination [Line Items]  
Income Tax Examination, Year under Examination 2022
CONNECTICUT | Maximum  
Income Tax Examination [Line Items]  
Income Tax Examination, Year under Examination 2024
MISSISSIPPI | Minimum  
Income Tax Examination [Line Items]  
Income Tax Examination, Year under Examination 2022
MISSISSIPPI | Maximum  
Income Tax Examination [Line Items]  
Income Tax Examination, Year under Examination 2024
VIRGINIA | Minimum  
Income Tax Examination [Line Items]  
Income Tax Examination, Year under Examination 2022
VIRGINIA | Maximum  
Income Tax Examination [Line Items]  
Income Tax Examination, Year under Examination 2024
[1] Returns for the 2016, 2018, 2019, 2021, and 2022 tax years were filed under the Compliance Assurance Process ("CAP") program and accepted by the Internal Revenue Service ("IRS") with the exception of the R&D tax credit. The 2017 tax year was also filed under the CAP program and was accepted by the IRS with the exception of the manufacturing deduction and the R&D tax credit. The 2023 tax year was filed under the CAP program and accepted by the IRS with the exception of the R&D tax credit and capitalized R&D expenses. The statute of limitations for the 2020 and 2021 tax years has been extended to June 30, 2027.
v3.25.4
Net Deferred Tax Assets (Table) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Deferred Tax Assets    
Workers' compensation $ 154 $ 150
Operating lease liabilities 71 67
Reserves not currently deductible for tax purposes 72 71
Stock compensation 9 8
Net operating losses, tax credit and other carry-forwards 30 33
Capitalized research and development expenses 152 315
Other 15 11
Gross deferred tax asset 503 655
Less valuation allowance 25 26
Net deferred tax assets 478 629
Deferred Tax Liabilities    
Depreciation and amortization 465 457
Contract accounting differences 57 47
Purchased intangibles 198 212
Operating lease assets 67 62
Retirement benefits 248 216
Other 15 13
Gross deferred tax liabilities 1,050 1,007
Deferred Tax Liabilities, Net $ (572) $ (378)
v3.25.4
Income Taxes Tax Carry-Forwards (Narrative) (Details) - State and Local Jurisdiction [Member]
$ in Millions
Dec. 31, 2025
USD ($)
Operating Loss Carryforwards [Line Items]  
Tax Credit Carryforward, Amount $ 14
Deferred Tax Assets, Tax Credit Carryforwards 11
Tax Credit Carryforward, Valuation Allowance $ 7
v3.25.4
Schedule of Long-term Debt (Table) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Debt Instrument [Line Items]    
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]   Long-term debt, net of current portion
Finance Lease, Liability   $ 9
Less unamortized debt issuance costs $ (21) (27)
Total long-term debt 2,700 3,203
Less current portion   503
Long-term debt, net of current portion 2,700 2,700
Senior Note    
Debt Instrument [Line Items]    
Less unamortized debt issuance costs (13) (17)
Senior Note | Senior notes due May 1, 2025, 3.844%    
Debt Instrument [Line Items]    
Long-term debt   $ 500
Stated percentage   3.844%
Senior Note | Senior notes due December 1, 2027, 3.483%    
Debt Instrument [Line Items]    
Long-term debt $ 600 $ 600
Stated percentage 3.483% 3.483%
Senior Note | Senior notes due August 16, 2028, 2.043%    
Debt Instrument [Line Items]    
Long-term debt $ 600 $ 600
Stated percentage 2.043% 2.043%
Senior Note | Senior notes due January 15, 2030, 5.353%    
Debt Instrument [Line Items]    
Long-term debt $ 500 $ 500
Stated percentage 5.353% 5.353%
Senior Note | Senior notes due May 1, 2030, 4.200% [Member]    
Debt Instrument [Line Items]    
Long-term debt $ 500 $ 500
Stated percentage 4.20% 4.20%
Senior Note | Senior notes due January 15, 2035, 5.749%    
Debt Instrument [Line Items]    
Long-term debt $ 500 $ 500
Stated percentage 5.749% 5.749%
Bonds | Gulf Opportunity Zone Industrial Development Revenue Bonds Due December 1, 2028, 4.55 Percent    
Debt Instrument [Line Items]    
Long-term debt $ 21 $ 21
Stated percentage 4.55% 4.55%
v3.25.4
Debt Facility (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 17, 2024
Dec. 31, 2025
Dec. 31, 2024
Sep. 16, 2024
Credit Facility        
Unamortized debt issuance costs   $ 21 $ 27  
Revolving Credit Facility        
Credit Facility        
Line of Credit Facility, Maximum Borrowing Capacity $ 1,700     $ 1,500
Debt instrument, term 5 years      
Line of Credit Facility, Remaining Borrowing Capacity   1,689    
Unamortized debt issuance costs   $ 8 $ 10  
Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate        
Credit Facility        
Spread on variable rate (SOFR)   1.475%    
Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Minimum        
Credit Facility        
Spread on variable rate (SOFR)   1.225%    
Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Maximum        
Credit Facility        
Spread on variable rate (SOFR)   2.10%    
Revolving Credit Facility | Base Rate [Member]        
Credit Facility        
Commitment fee rate on unused capacity   0.20%    
Revolving Credit Facility | Base Rate [Member] | Minimum        
Credit Facility        
Commitment fee rate on unused capacity   0.125%    
Revolving Credit Facility | Base Rate [Member] | Maximum        
Credit Facility        
Commitment fee rate on unused capacity   0.30%    
Letter of Credit        
Credit Facility        
Line of Credit Facility, Maximum Borrowing Capacity   $ 300    
Standby Letters of Credit        
Credit Facility        
Letters of credit issued but undrawn   $ 11    
v3.25.4
Debt Commercial Paper (Narrative) (Details) - USD ($)
$ in Billions
Sep. 17, 2024
Sep. 16, 2024
Maximum    
Short-term Debt [Line Items]    
Commercial Paper $ 1.7 $ 1.0
v3.25.4
Debt Senior Note (Narrative) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Debt Instrument [Line Items]    
Unamortized debt issuance costs $ 21 $ 27
Senior Notes    
Debt Instrument [Line Items]    
Unamortized debt issuance costs 13 17
Senior Notes | Senior notes due January 15, 2030, 5.353%    
Debt Instrument [Line Items]    
Long-term debt $ 500 $ 500
Stated percentage 5.353% 5.353%
Senior Notes | Senior notes due January 15, 2035, 5.749%    
Debt Instrument [Line Items]    
Long-term debt $ 500 $ 500
Stated percentage 5.749% 5.749%
Senior Notes | Senior notes due May 1, 2025, 3.844%    
Debt Instrument [Line Items]    
Long-term debt   $ 500
Stated percentage   3.844%
v3.25.4
Debt (Narrative) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Debt Instrument [Line Items]    
Long-term Debt, Fair Value $ 2,730 $ 3,110
Long-Term Debt, Current Maturities, Fair Value   $ 497
Long-Term Debt, Maturity, Year Two 600  
Long-Term Debt, Maturity, Year Three 621  
Long-term debt, maturity, year five $ 1,000  
v3.25.4
Investigations, Claims, And Litigation (Narrative) (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
numberOfReinsurers
frigates
Dec. 31, 2023
USD ($)
Loss Contingencies    
Loss Contingency, Number of Defendants | numberOfReinsurers 32  
Mission Technologies [Member]    
Loss Contingencies    
Proceeds from Legal Settlements   $ 49.5
Arbitration [Member]    
Loss Contingencies    
Loss Contingency, Number of Defendants | numberOfReinsurers 6  
Bolivarian Republic of Venezuela [Member]    
Loss Contingencies    
Number of foreign-built frigates | frigates 2  
Arbitration Claim $ 151.0  
Bolivarian Republic of Venezuela [Member] | Ingalls [Member]    
Loss Contingencies    
Proceeds from Sale of Arbitration Claim 70.5  
Litigation counter claim [Member] | Bolivarian Republic of Venezuela [Member]    
Loss Contingencies    
Arbitration Claim $ 22.0  
v3.25.4
Components of Lease Expense (Table) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Leases [Abstract]      
Operating lease cost $ 72 $ 72 $ 67
Short-term operating lease costs 61 57 54
Variable operating lease costs 5 5 7
Operating cash flows from operating leases (73) (70) (66)
Right-of-use assets obtained in exchange for new operating lease liabilities $ 91 $ 41 $ 80
Weighted-average remaining lease term (years) - operating leases 8 years 8 years 9 years
Weighted-average discount rate - operating leases 5.40% 5.20% 5.00%
v3.25.4
Lessee, Operating Lease, Liability, Maturity (Table) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Leases [Abstract]    
2026 $ 71  
2027 61  
2028 48  
2029 41  
2030 34  
Thereafter 95  
Total lease payments 350  
Less: Imputed interest 69  
Present value of lease liabilities $ 281 $ 256
v3.25.4
Reconciliation of Operating Lease Liability Recognized in Statement of Financial Position (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Lessee, Lease, Description [Line Items]    
Short-term operating lease liabilities $ 58 $ 51
Long-term operating lease liabilities 223 205
Total operating lease liabilities $ 281 $ 256
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Other current liabilities  
v3.25.4
Commitments and Contingencies (Narrative) (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
Commitments and Contingencies  
Entity Number of Employees 44,000
Percentage of workforce subject to Collective Bargaining Arrangements 45.00%
Number of Collective Bargaining Agreements 13
Surety Bonds Outstanding  
Commitments and Contingencies  
Surety bonds outstanding $ 368
Standby Letters of Credit  
Commitments and Contingencies  
Letters of credit issued but undrawn $ 11
Minimum  
Commitments and Contingencies  
Period covered by collective bargaining agreements 3 years
Maximum  
Commitments and Contingencies  
Period covered by collective bargaining agreements 5 years
Mission Technologies [Member]  
Commitments and Contingencies  
Entity Number of Employees 80
Number of Collective Bargaining Agreements 5
Newport News Shipbuilding [Member]  
Commitments and Contingencies  
Number of Collective Bargaining Agreements 3
Ingalls [Member]  
Commitments and Contingencies  
Number of Collective Bargaining Agreements 5
v3.25.4
Employee Pension and Other Postretirement Benefits Narrative (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
USD ($)
participants
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Defined Benefit Plan Disclosure [Line Items]      
Cost recognized for defined contribution plans $ 176,000 $ 166,000 $ 158,000
Pension and other postretirement benefit plan liabilities 204,000 189,000  
Defined Contribution Plan, Liabilities 59,000 51,000  
Assets held in rabbi trusts $ 249,000 233,000  
Number of participants | participants 3,900    
Lump sum distribution $ 80,000    
Fair value of plan assets $ 7,446,000 $ 7,024,000  
Initial health care cost trend rate assumed for next year 6.50% 6.00%  
Gradually declining to a rate of 4.50% 4.50%  
Partnership [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments $ 422,000    
Pension Benefits [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Projected benefit obligation 6,106,000 $ 5,791,000 6,242,000
Accumulated benefit obligation 5,906,000 5,602,000  
Fair value of plan assets 7,446,000 7,024,000 6,873,000
Defined Benefit Plan, Pension Plan with Projected Benefit Obligation in Excess of Plan Assets, Projected Benefit Obligation 204,000 189,000  
Aggregate accumulated benefit obligation for plans with accumulated benefit obligations in excess of plan assets 192,000 178,000  
Settlement   80,000  
Other Benefits [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Projected benefit obligation $ 319,000 $ 333,000 $ 370,000
Initial health care cost trend rate assumed for next year 6.50% 6.00%  
Gradually declining to a rate of 4.50% 4.50%  
Defined Benefit Plan Health Care Cost Trend Rate, Year ultimate rate is reached 2031 2030  
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year $ 35,000    
Maximum      
Defined Benefit Plan Disclosure [Line Items]      
Maximum annual percentage employer contribution per employee 4.00%    
Projected benefit obligation $ 75    
Maximum | Pension Benefits [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year 2,000    
Non-qualified [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Assets held in rabbi trusts 192,000 $ 179,000  
Qualified [Member] | Pension Benefits [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Projected benefit obligation 5,901,000 5,602,000  
Accumulated benefit obligation 5,714,000 5,424,000  
Fair value of plan assets $ 7,446,000 $ 7,024,000  
v3.25.4
Employee Pension and Other Postretirement Benefits Schedule of Net Benefit Costs (Table) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Pension Benefits [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Service cost $ 86 $ 109 $ 112
Interest cost 336 321 343
Expected return on plan assets (549) (538) (529)
Amortization of prior service cost (credit) 17 16 17
Amortization of net actuarial loss (gain) 1 18 17
Net periodic benefit cost (109) (74) (40)
Other Benefits [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Service cost 4 6 6
Interest cost 19 19 21
Amortization of prior service cost (credit) (1) (2) (2)
Amortization of net actuarial loss (gain) (13) (13) (15)
Net periodic benefit cost $ 9 $ 10 $ 10
v3.25.4
Employee Pension and Other Postretirement Benefits Schedule of Defined Benefit Plans Discolsures (Table) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Fair value of plan assets at beginning of year $ 7,024    
Fair value of plan assets at end of year 7,446 $ 7,024  
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position [Abstract]      
Pension plan assets 1,544 1,422  
Pension Benefits [Member]      
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]      
Benefit obligation at beginning of year 5,791 6,242  
Service cost 86 109 $ 112
Interest cost 336 321 343
Plan participants' contributions 5 5  
Plan amendments 3    
Actuarial loss (gain) 218 (499)  
Benefits paid (333) (307)  
Settlement   (80)  
Benefit obligation at end of year 6,106 5,791 6,242
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Fair value of plan assets at beginning of year 7,024 6,873  
Actual return on plan assets 736 514  
Employer contributions 14 11  
Plan participants' contributions 5 5  
Benefits paid (333) (307)  
Transfers   2  
Settlement   (74)  
Fair value of plan assets at end of year 7,446 7,024 6,873
Funded status 1,340 1,233  
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position [Abstract]      
Pension plan assets 1,544 1,422  
Current liability [1] (49) (47)  
Non-current liability [2] (155) (142)  
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), before Tax [Abstract]      
Prior service costs (credits) 108 122  
Net actuarial loss (gain) 90 60  
Other Benefits [Member]      
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]      
Benefit obligation at beginning of year 333 370  
Service cost 4 6 6
Interest cost 19 19 21
Plan participants' contributions 9 9  
Actuarial loss (gain) 3 (26)  
Benefits paid (49) (45)  
Benefit obligation at end of year 319 333 $ 370
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Employer contributions 40 36  
Plan participants' contributions 9 9  
Benefits paid (49) (45)  
Funded status (319) (333)  
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position [Abstract]      
Current liability [1] (119) (124)  
Non-current liability [2] (200) (209)  
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), before Tax [Abstract]      
Prior service costs (credits) (10) (11)  
Net actuarial loss (gain) $ (103) $ (119)  
[1] Included in other current liabilities and current portion of postretirement plan liabilities for pension benefits and other benefits, respectively.
[2] Included in pension plan liabilities and other postretirement plan liabilities for pension benefits and other benefits, respectively.
v3.25.4
Employee Pension and Other Postretirement Benefits Schedule of Amounts in AOCI to be Recongnized (Table) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, before Tax [Abstract]      
Amortization of prior service cost (credit) [1] $ (16) $ (14) $ (15)
Amortization of net actuarial loss (gain) [1] (12) 5 2
Pension Benefits [Member]      
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, before Tax [Abstract]      
Prior service credit (cost) (3)    
Amortization of prior service cost (credit) 17 16 17
Net actuarial gain (loss) (31) 475 202
Amortization of net actuarial loss (gain) 1 18 17
Other   9  
Total changes in accumulated other comprehensive income (loss) (16) 518 236
Other Benefits [Member]      
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, before Tax [Abstract]      
Amortization of prior service cost (credit) (1) (2) (2)
Net actuarial gain (loss) (3) 26 19
Amortization of net actuarial loss (gain) (13) (13) (15)
Other   (1)  
Total changes in accumulated other comprehensive income (loss) $ (17) $ 10 $ 2
[1] These accumulated comprehensive loss components are included in the computation of net periodic benefit cost. See Note 17: Employee Pension and Other Postretirement Benefits. The tax expense recorded in stockholders' equity for the amounts reclassified from accumulated other comprehensive loss for the years ended December 31, 2025, 2024, and 2023, was $1 million, $5 million, and $4 million, respectively.
v3.25.4
Employee Pension and Other Postretirement Benefits Schedule of Assumpstions Used and Health Care Cost Trend Rates (Table) (Details)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Weighted Average Assumptions - Benefit Obligation [Abstract]      
Initial health care cost trend rate assumed for next year 6.50% 6.00%  
Gradually declining to a rate of 4.50% 4.50%  
Pension Benefits [Member]      
Weighted Average Assumptions - Net Periodic Benefit Cost [Abstract]      
Discount rate 5.98% 5.28% 5.47%
Expected long-term rate on plan assets 8.00% 8.00% 8.00%
Rate of compensation increase 3.76% 3.63% 3.63%
Weighted Average Assumptions - Benefit Obligation [Abstract]      
Discount rate 5.72% 5.98%  
Weighted average interest crediting rate 3.57% 3.54%  
Rate of compensation increase 3.77% 3.76%  
Other Benefits [Member]      
Weighted Average Assumptions - Net Periodic Benefit Cost [Abstract]      
Discount rate 5.79% 5.35% 5.50%
Initial health care cost trend rate assumed for next year 6.00% 6.00% 6.00%
Gradually declining to a rate of 4.50% 4.50% 4.50%
Defined Benefit Plan, Assumptions Used in Calculating Net Periodic Benefit Cost, Health Care Cost Trend Rate, Year ultimate rate is reached 2030 2029 2028
Weighted Average Assumptions - Benefit Obligation [Abstract]      
Discount rate 5.42% 5.79%  
Initial health care cost trend rate assumed for next year 6.50% 6.00%  
Gradually declining to a rate of 4.50% 4.50%  
Defined Benefit Plan Health Care Cost Trend Rate, Year ultimate rate is reached 2031 2030  
v3.25.4
Employee Pension and Other Postretirement Benefits Schedule of Defined Benefit Plans Disclosures, Cash Contributions (Table) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]      
Other benefit plans $ 40 $ 36 $ 32
Total contributions 54 47 44
Discretionary Contribution [Member] | Non-qualified [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Pension contributions $ 14 $ 11 $ 12
v3.25.4
Employee Pension and Other Postretirement Benefits Schedule of Expected Benefit Payments and Receipts (Table) (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Pension Benefits [Member]  
Expected Future Benefit Payments, Fiscal Year Maturity [Abstract]  
2026 $ 366
2027 384
2028 401
2029 415
2030 427
Years 2031 to 2035 2,258
Other Benefits [Member]  
Expected Future Benefit Payments, Fiscal Year Maturity [Abstract]  
2026 35
2027 34
2028 32
2029 31
2030 29
Years 2031 to 2035 $ 124
v3.25.4
Employee Pension and Other Postretirement Benefits Schedule of Allocation Plan Asset (Table) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets $ 7,446 $ 7,024
Fair Value, Inputs, Level 1, Level 2, and Level 3    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 4,485 3,787
Fair Value, Inputs, Level 1, Level 2, and Level 3 | U.S. and international equities    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 1,624 1,499
Fair Value, Inputs, Level 1, Level 2, and Level 3 | Government and agency debt securities    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 1,154 777
Fair Value, Inputs, Level 1, Level 2, and Level 3 | Corporate and other debt securities    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 1,696 1,487
Fair Value, Inputs, Level 1, Level 2, and Level 3 | Group annuity contract    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 3 3
Fair Value, Inputs, Level 1, Level 2, and Level 3 | Cash and cash equivalents    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 8 21
Level 1    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 1,632 1,520
Level 1 | U.S. and international equities    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 1,624 1,499
Level 1 | Cash and cash equivalents    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 8 21
Level 2    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 2,853 2,267
Level 2 | Government and agency debt securities    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 1,154 777
Level 2 | Corporate and other debt securities    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 1,696 1,487
Level 2 | Group annuity contract    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 3 3
Fair Value Measured at Net Asset Value Per Share    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 2,961 3,237
Fair Value Measured at Net Asset Value Per Share | U.S. and international equities    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets [1] 810 1,199
Fair Value Measured at Net Asset Value Per Share | Corporate and other debt securities    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 277 242
Fair Value Measured at Net Asset Value Per Share | Cash and cash equivalents    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets [2] 114 126
Fair Value Measured at Net Asset Value Per Share | Real Estate Investments    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 376 469
Fair Value Measured at Net Asset Value Per Share | Partnership [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 962 926
Fair Value Measured at Net Asset Value Per Share | Hedge funds    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets $ 422 $ 275
Minimum | United States and International Equity Securities [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage 25.00%  
Minimum | Fixed Income Securities [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage 35.00%  
Minimum | Alternative Investments [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage 25.00%  
Maximum | United States and International Equity Securities [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage 35.00%  
Maximum | Fixed Income Securities [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage 45.00%  
Maximum | Alternative Investments [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage 35.00%  
[1] U.S. and international equity securities include investments in small, medium, and large capitalization stocks of public companies held in commingled trust funds.
[2] Cash and cash equivalents are liquid short-term investment funds and include net receivables and payables of the trust. These funds are available for immediate use to fund daily operations, execute investment policies, and serve as a temporary investment vehicle.
v3.25.4
Stock Compensation Plans (Narrative) (Details) - $ / shares
 3 Months Ended 12 Months Ended
Dec. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period   3 years      
Restricted performance stock rights          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period   200,000 100,000 200,000  
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value $ 169.27 $ 169.27 $ 288.26 $ 215.24  
Share-Based Compensation, Arrangement By Share-Based Payment, Stock Awards, Performance Goals, EBITDAP Weight 40.00% 40.00% 40.00% 40.00%  
Share-Based Compensation, Arrangement By Share-Based Payment, Stock Awards, Performance Goals, Return on Invested Capital Weight 40.00% 40.00% 40.00% 40.00%  
Share-Based Compensation, Arrangement By Share-Based Payment, Stock Awards, Performance Goals, Relative EBITDAP Growth Weight   20.00% 20.00% 20.00%  
Restricted performance stock rights | Minimum          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Restricted performance stock rights ultimate vesting percentage 0.00% 0.00%      
Restricted performance stock rights | Maximum          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Restricted performance stock rights ultimate vesting percentage 200.00% 200.00%      
Compensation restricted stock rights          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period   100,000 100,000    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value $ 170.99 $ 170.99 $ 287.38    
Compensation restricted stock rights | Share-Based Payment Arrangement, Tranche One          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage   33.33%      
Compensation restricted stock rights | Share-Based Payment Arrangement, Tranche Two          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage   33.33%      
Compensation restricted stock rights | Share-Based Payment Arrangement, Tranche Three          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage   33.33%      
Stock Awards          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value $ 199.43 $ 199.43 $ 221.59 $ 189.98 $ 189.68
Stock Awards, Granted   316,000 174,000 177,000  
Stock Rights [Member] | Maximum          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Stock Awards, Granted 10,000        
Retention Restricted Stock          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period   2,700 2,200 9,500  
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value $ 227.70 $ 227.70 $ 281.01 $ 213.37  
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number 5,200 5,200      
Retention Restricted Stock | Minimum          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period   1 year 1 year 2 years  
Retention Restricted Stock | Maximum          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period   2 years 3 years 3 years  
2022 Long Term Incentive Stock Plan          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized 1,300,000 1,300,000      
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant 900,000 900,000      
v3.25.4
Stock Compensation Plans Schedule of Status of Stock Awards (Table) (Details) - Stock Awards - $ / shares
shares in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]        
Stock awards, Outstanding, Beginning balance 550 535 506  
Stock Awards, Granted 316 174 177  
Stock awards, Adjustment due to performance 21 61 32  
Stock awards, Vested (194) (206) (155)  
Stock awards, Forfeited (30) (14) (25)  
Stock awards, Outstanding, Ending balance 663 550 535 506
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]        
Stock awards, Outstanding, Weighted Average Grant Date Fair Value, Beginning balance $ 221.59 $ 189.98 $ 189.68  
Stock awards, Granted, Weighted Average Grant Date Fair Value 172.05 286.14 215.16  
Stock Awards, Adjustments due to performance, Weighted Average Grant Date Fair Value 215.47 181.76 224.35  
Stock awards, Vested, Weighted Average Grant Date Fair Value 215.47 181.76 224.35  
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value 219.31 240.77 178.68  
Stock awards, Outstanding, Weighted Average Grant Date Fair Value, Ending balance $ 199.43 $ 221.59 $ 189.98 $ 189.68
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]        
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms 1 year 1 year 1 year 1 year
v3.25.4
Stock Compensation Plans Compensation and Unrecognized Compensation Expense (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Compensation expense      
Total stock-based compensation expense $ 54 $ 23 $ 34
Tax benefits recognized for stock-based compensation 12 7 10
Stock Awards      
Compensation expense      
Realized tax benefits from issuance of stock in settlement of RPSRs and RSRs 8 $ 6 $ 7
Restricted stock rights      
Unrecognized compensation expense      
Unrecognized compensation expense associated with stock awards $ 23    
Weighted average period of recognition of unrecognized compensation expense 1 year    
Restricted performance stock rights      
Unrecognized compensation expense      
Unrecognized compensation expense associated with stock awards $ 25    
Weighted average period of recognition of unrecognized compensation expense 1 year    
v3.25.4
Subsidiary Guarantors (Narrative) (Details)
 12 Months Ended
Dec. 31, 2025
Subsidiary Guarantors [Abstract]  
Parent ownership percentage of subsidiary guarantors 100.00%
v3.25.4
Valuation and Qualifying Accounts (Details) - SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset [Member] - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]      
Valuation allowances beginning balance $ 26 $ 29 $ 28
(Benefits)/Charges to Income (1) (3) 1
Valuation allowances ending balance $ 25 $ 26 $ 29