Huntington Ingalls Industries, Inc. has recently released its 10-K report, providing a detailed overview of its business operations. The company specializes in designing, building, overhauling, and repairing military ships in the United States, operating through three segments: Ingalls, Newport News, and Mission Technologies. Its work includes the construction of non-nuclear and nuclear-powered ships for the U.S. Navy and U.S. Coast Guard, as well as providing naval nuclear support services and C5ISR systems and operations.
The 10-K report also delves into the company's assessment of the business environment, highlighting the impact of the United States political and economic landscape on its operations. The report outlines the challenges faced by the company, its customers, suppliers, and subcontractors due to uncertainty in the economy, industry, and company. It also discusses the impact of the Trump Administration's policies, defense spending environment, and the global geopolitical environment on its business operations.
Furthermore, the report provides insights into the company's contracts and critical accounting policies, estimates, and judgments. It details the types of contracts the company engages in, such as firm fixed-price, fixed-price incentive, cost-type, and time and materials contracts, and explains the complexities of contract fees and award fees. Additionally, the report highlights critical accounting policies related to revenue recognition, retirement-related benefit plans, and workers' compensation, emphasizing the significant judgment and estimates involved in these accounting practices.
The 10-K report offers a comprehensive view of Huntington Ingalls Industries, Inc.'s financial condition, results of operations, and the various factors influencing its business environment. As a result of these announcements, the company's shares have moved 1.68% on the market, and are now trading at a price of $425.90. If you want to know more, read the company's complete 10-K report here.
