HII · 10-K filed 5 Feb 2026 · year to 31 Dec 2025

Huntington Ingalls Industries

31 named things its latest annual report says its results depend on, each in the company's own words. 18 of them are also named by other companies we've read.

Read the filing on SEC.gov ↗

Customers

U.S. Government

earns from · Substantially all of our revenues in 2025named as a risk

Substantially all of our revenues in 2025 was derived from products and services sold to the U.S. Government.Risk factors (Item 1A)

Also named by ADI, AIR, APH, ASTS, ATI, AVAV, AWK, BA and 46 more

U.S. Navy

earns from · approximately 81%, 80%, and 81%, respectively, of our revenuesnamed as a risk

In 2025, 2024, and 2023, approximately 81%, 80%, and 81%, respectively, of our revenues were generated from the U.S. Navy.Business (Item 1)

Also named by BWXT, CW, GD, HEI, KTOS

U.S. Department of War

earns fromnamed as a risk

We conduct most of our business with the U.S. Government, primarily the Department of War (the "Department").Business (Item 1)

Also named by AIR, BA, CACI, CDRE, CVLG, GD, LHX, MP and 4 more

U.S. Department of Energy

earns from

We support the DoE’s national security mission through the management and operation of its sites, as well as the safe cleanup of legacy waste across the country.Business (Item 1)

Also named by AAON, AMRC, AOS, BWXT, CDE, CDRE, CEG, CLF and 16 more

U.S. Coast Guard

earns from

Through our Ingalls segment, we design and construct non-nuclear ships for the U.S. Navy and U.S. Coast Guard, including amphibious assault ships, surface combatants, and national security cutters ("NSC").Business (Item 1)

Also named by KEX, PII

Suppliers

Sole source suppliers

depends onnamed as a risk

The inability of a sole source supplier to provide a necessary component or part on a timely, compliant, and cost-effective basis could increase our contract cost and affect our ability to satisfy our contract obligations.Risk factors (Item 1A)

Also named by AVAV, AYI, BA, BDX, IONQ, KMB, LHX, NOC and 6 more

Partners and platforms

Electric Boat Corporation (General Dynamics)

depends on

We have a teaming agreement with Electric Boat Corporation ("Electric Boat"), a division of General Dynamics Corporation ("General Dynamics"), to build Virginia class (SSN 774) fast attack nuclear submarines.Business (Item 1)

Other companies

Fixed-price incentive contracts

Approximately 46% of our revenues in 2025named as a risk

Approximately 46% of our revenues in 2025 were generated under fixed-price incentive contracts, approximately 50% were generated under cost-type contracts, approximately 1% were generated under time and material contracts, and approximately 3% were generated under firm fixed-price contracts.Risk factors (Item 1A)

Competitors

General Dynamics

competes withnamed as a risk

Our Newport News and Ingalls segments compete primarily with General Dynamics and, in the case of certain non-nuclear shipbuilding programs, smaller shipyards.Business (Item 1)

Also named by LMT

Places

Pascagoula, Mississippi

operates in · 800 acres

Our Ingalls segment is located in Pascagoula, Mississippi on 800 acres along the Pascagoula River.Business (Item 1)

Newport News, Virginia

operates in · approximately 550 acres

Our Newport News shipyard is located on approximately 550 acres near the mouth of the James River, which adjoins the Chesapeake Bay.Business (Item 1)

Hazards

Hurricanes

operates innamed as a risk

We have been, and may in the future be, exposed to damaging storms and other extreme weather conditions, such as hurricanes and floods (which may be exacerbated by changing weather patterns or environmental conditions), rising sea waters, environmental disasters such as oil spills, acts of terrorism, and health epidemics, pandemics, and similar outbreaks.Risk factors (Item 1A)

Also named by AIG, AN, ASO, BAC, BBY, BJ, BPOP, BRO and 89 more

Commodities and inputs

Raw materials and components

exposed to its pricenamed as a risk

In addition, significant delays in deliveries of key raw materials, which may occur due to material shortage or pricing, could have a material adverse effect on our financial position, results of operations, or cash flows.Risk factors (Item 1A)

Regulators

U.S. Nuclear Regulatory Commission

subject tonamed as a risk

Our nuclear operations are subject to various safety related requirements imposed by the U.S. Navy, the DoE, and the U.S. Nuclear Regulatory Commission.Risk factors (Item 1A)

Also named by AEE, AEP, BRK/B, BWXT, CAH, CDRE, CEG, CW and 20 more

Defense Contract Audit Agency (DCAA)

subject tonamed as a risk

In addition to the Department's business practice initiatives, the DCMA and DCAA have implemented cost recovery/cost savings initiatives to prioritize cost recovery/savings.Risk factors (Item 1A)

Also named by ACN, BA, CACI, CDRE, FLR, KTOS, LDOS, LMT and 6 more

Defense Contract Management Agency (DCMA)

subject tonamed as a risk

We operate in a heavily regulated environment and are overseen and routinely audited by the U.S. Government and its agencies, including the U.S. Navy's Supervisor of Shipbuilding, the DCAA, and the DCMA.Risk factors (Item 1A)

Also named by CACI, FLR, LDOS, OSK, TTEK, TXT

Laws and programs

Gerald R. Ford class (CVN 78) aircraft carriers

earns from · $15.4 billion

In addition, we have received contract awards valued at $15.4 billion for detail design and construction of the Gerald R. Ford class (CVN 78) aircraft carriers, Enterprise (CVN 80) and Doris Miller (CVN 81).Business (Item 1)

John F. Kennedy (CVN 79)

earns from · $8.8 billion

Beginning in 2009, we received contract awards totaling $8.8 billion for construction preparation, detail design, and construction of the second Gerald R. Ford class (CVN 78) aircraft carrier, John F. Kennedy (CVN 79).Business (Item 1)

Tariffs

exposed to its pricenamed as a risk

U.S. Government contracts often extend for years, and unforeseen events, such as technology difficulties, fluctuations in the price of raw materials, a significant increase in or sustained period of higher inflation, new or increased tariffs, supplier issues, including equipment delays, challenging labor market conditions, unexpected rework, and cost overruns, have in the past resulted, and may in the future result, in contract prices becoming less favorable or even unprofitable to us over time.Risk factors (Item 1A)

Also named by A, AAPL, ACHR, ADI, AEHR, AEP, AIOT, AKAM and 170 more

Other transaction authority agreements (OTAs)

subject tonamed as a risk

If we cannot adapt successfully to changing acquisition processes or if the Department significantly favors privately funded, non-traditional defense contractors or increases cost sharing mandates, we may lose new business opportunities, including in high-growth or strategic areas, and our future performance and results of operations could be adversely affected.Risk factors (Item 1A)

Also named by CACI, LHX, RTX

U.S. federal government shutdown

named as a risk

A federal government shutdown could, in turn, result in the delay or cancellation of government programs, or the delay of payments by our customer, which could have a negative effect on our cash flows and adversely affect our future results of operations.Risk factors (Item 1A)

Also named by LUV, OKLO, UAL

U.S. Congress appropriations

depends onnamed as a risk

As a U.S. Government contractor, we depend on Congressional funding for our programs.Risk factors (Item 1A)

Also named by AMRC

Nimitz class aircraft carrier refueling and complex overhaul (RCOH)

earns fromnamed as a risk

If a U.S. Government-owned shipyard became capable of, and engaged in, the refueling of nuclear-powered aircraft carriers, our financial position, results of operations, or cash flows would likely be adversely affected.Risk factors (Item 1A)

National Security Cutter program

earns fromnamed as a risk

In 2025, we reached agreement with the U.S. Coast Guard to terminate production and delivery of the 11th and final ship.Business (Item 1)

Clean Air Act and Clean Water Act

subject tonamed as a risk

Moreover, if we violate the Clean Air Act or the Clean Water Act, the facility or facilities involved in the violation could be placed by the EPA on a list of facilities that generally cannot be used in performing on U.S. Government contracts until the violation is corrected.Risk factors (Item 1A)

Virginia class (SSN 774) submarine program

earns from

In 2019, the team was awarded a construction contract for the fifth block of nine Virginia class (SSN 774) submarines, and, in 2021, an option for a 10th submarine was exercised, continuing the two submarines per year production rate.Business (Item 1)

Also named by CW, GD

Columbia class (SSBN 826) submarine program

earns from

As a subcontractor to Electric Boat, we leverage our Virginia class (SSN 774) experience to perform design work and build modules for the entire Columbia class (SSBN 826) submarine program.Business (Item 1)

Also named by CW, GD

Arleigh Burke class (DDG 51) destroyer program

earns from

In 2023, we were awarded a multi-year contract for construction of six more Arleigh Burke class (DDG 51) destroyers, as well as the first option ship, for a total of seven ships.Business (Item 1)

Also named by GD

LHA/LPD amphibious assault ship programs

earns from

We are the sole builder of amphibious assault ships and one of two builders of surface combatants for the U.S. Navy.Business (Item 1)

National Defense Authorization Act

subject to

The fiscal year 2026 National Defense Authorization Act (“NDAA”) provides authorization for William J. Clinton (CVN 82) and George W. Bush (CVN 83), including incremental funding, advance construction, and advance procurement authorities.Business (Item 1)

Public Law 119-21

subject to

The impacts of the Act on domestic research and development expenditures and bonus depreciation were recorded in the Company’s financial statements as of December 31, 2025.Risk factors (Item 1A)