Huntington Ingalls Industries (HII) 10-Q 1 Aug 24 2024 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2024	Jul. 26, 2024
Document And Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		39,215,232
Amendment Flag	false
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Entity Central Index Key	0001501585
Current Fiscal Year End Date	--12-31

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Operations and Comprehensive Income (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Sales and service revenues
Sales and service revenues	$ 2,977	$ 2,787	$ 5,782	$ 5,461
Cost of sales and service revenues
Income (loss) from operating investments, net	11	4	23	16
Other income and gains (losses), net	1	1
General and administrative expenses	255	238	487	458
Operating income (loss)	189	156	343	297
Other income (expense)
Interest expense	(24)	(24)	(45)	(48)
Non-operating retirement benefit	46	37	90	74
Other, net	5		12	9
Earnings (loss) before income taxes	216	169	400	332
Federal and foreign income tax expense (benefit)	43	39	74	73
Net earnings (loss)	$ 173	$ 130	$ 326	$ 259
Basic earnings (loss) per share (in dollars per share)	$ 4.38	$ 3.27	$ 8.25	$ 6.49
Weighted-average common shares outstanding (in shares)	39.5	39.8	39.5	39.9
Diluted earnings (loss) per share	$ 4.38	$ 3.27	$ 8.25	$ 6.49
Weighted-average diluted shares outstanding (in shares)	39.5	39.8	39.5	39.9
Dividends declared per share	$ 1.30	$ 1.24	$ 2.60	$ 2.48
Other comprehensive income (loss)
Change in unamortized benefit plan costs	$ 4	$ 5	$ 9	$ 9
Tax benefit (expense) for items of other comprehensive income		(1)	(2)	(2)
Other comprehensive income (loss), net of tax	4	4	7	7
Comprehensive income (loss)	177	134	333	266
Product [Member]
Sales and service revenues
Sales and service revenues	1,926	1,879	3,713	3,708
Cost of sales and service revenues
Cost of sales and service revenues	1,627	1,602	3,164	3,170
Service [Member]
Sales and service revenues
Sales and service revenues	1,051	908	2,069	1,753
Cost of sales and service revenues
Cost of sales and service revenues	$ 918	$ 796	$ 1,811	$ 1,552

Condensed Consolidated Statem_2

Condensed Consolidated Statements Of Financial Position (Unaudited) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Current Assets
Cash and cash equivalents	$ 11	$ 430
Accounts receivable, net	706	461
Contract assets	1,694	1,537
Inventoried costs, net	198	186
Income taxes receivable	197	183
Prepaid expenses and other current assets	106	83
Total current assets	2,912	2,880
Property, plant, and equipment, net	3,342	3,296
Operating lease assets	259	262
Goodwill	2,618	2,618
Other intangible assets, net	837	891
Pension plan assets	952	888
Miscellaneous other assets	390	380
Total assets	11,310	11,215
Current Liabilities
Trade accounts payable	652	554
Accrued employees' compensation	354	382
Short-term debt and current portion of long-term debt	942	231
Current portion of postretirement plan liabilities	129	129
Current portion of workers' compensation liabilities	225	224
Contract liabilities	886	1,063
Other current liabilities	375	449
Total current liabilities	3,563	3,032
Long-term debt	1,715	2,214
Pension plan liabilities	216	212
Other postretirement plan liabilities	235	241
Workers' compensation liabilities	451	449
Long-term operating lease liabilities	224	228
Deferred tax liabilities	341	367
Other long-term liabilities	387	379
Total liabilities	7,132	7,122
Commitments and Contingencies (Note 10)
Stockholders' Equity
Common stock	1	1
Additional paid-in capital	2,029	2,045
Retained earnings (deficit)	4,977	4,755
Treasury stock	(2,414)	(2,286)
Accumulated other comprehensive income (loss)	(415)	(422)
Total stockholders' equity	4,178	4,093
Total liabilities and stockholders' equity	$ 11,310	$ 11,215

Condensed Consolidated Statem_3

Condensed Consolidated Statements Of Financial Position (Unaudited) (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Accounts Receivable, Allowance for Credit Loss, Current	$ 2	$ 8
Accumulated depreciation	2,494	2,467
Accumulated amortization	$ 1,063	$ 1,009
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Common stock, shares issued (in shares)	53,710,514	53,595,748
Common stock, shares outstanding (in shares)	39,260,208	39,618,880

Condensed Consolidated Statem_4

Condensed Consolidated Statements Of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Operating Activities
Net earnings (loss)	$ 326	$ 259
Adjustments to reconcile to net cash provided by (used in) operating activities
Depreciation	106	110
Amortization of purchased intangibles	54	64
Other non-cash transactions, net	2	14
Stock-based compensation	7	18
Deferred income taxes	(28)	(62)
Loss (gain) on investments in marketable securities	(11)	(12)
Change in
Accounts Receivable	(239)	(149)
Contract assets	(157)	(27)
Inventoried costs	(12)	(7)
Prepaid expenses and other assets	(38)	(42)
Accounts payable and accruals	(164)	(57)
Retiree benefits	(57)	(36)
Net cash provided by (used in) operating activities	(211)	73
Investing Activities
Capital expenditure additions	(165)	(111)
Grant proceeds for capital expenditures	3	3
Investment in affiliates		(24)
Proceeds from equity method investments		61
Other investing activities, net		1
Net cash provided by (used in) investing activities	(162)	(70)
Financing Activities
Repayment of long-term debt	(229)	(30)
Proceeds from revolving credit facility borrowings	42
Repayment of revolving credit facility borrowings	(42)
Net borrowings on commercial paper	440
Dividends paid	(102)	(99)
Repurchases of common stock	(127)	(16)
Employee taxes on certain share-based payment arrangements	(25)	(12)
Other financing activities, net	(3)
Net cash provided by (used in) financing activities	(46)	(157)
Change in cash and cash equivalents	(419)	(154)
Cash and cash equivalents, beginning of period	430	467
Cash and cash equivalents, end of period	11	313
Supplemental Cash Flow Disclosure
Cash paid for income taxes (net of refunds)	157	172
Cash paid for interest	51	51
Non-Cash Investing and Financing Activities
Capital expenditures accrued in accounts payable	$ 9	$ 4

Condensed Consolidated Statem_5

Condensed Consolidated Statements Of Changes In Equity (Unaudited) - 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)	259			259
Dividends declared	(99)			(99)
Stock-based compensation	6		8	(2)
Other comprehensive income (loss), net of tax	7					7
Treasury stock activity	(16)				(16)
Balance at Jun. 30, 2023	3,646	1	2,030	4,434	(2,227)	(592)
Balance at Mar. 31, 2023	3,563	1	2,024	4,354	(2,220)	(596)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	130			130
Dividends declared	(50)			(50)
Stock-based compensation	6		6
Other comprehensive income (loss), net of tax	4					4
Treasury stock activity	(7)				(7)
Balance at Jun. 30, 2023	3,646	1	2,030	4,434	(2,227)	(592)
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)	326			326
Dividends declared	(102)			(102)
Stock-based compensation	(18)		(16)	(2)
Other comprehensive income (loss), net of tax	7					7
Treasury stock activity	(128)				(128)
Balance at Jun. 30, 2024	4,178	1	2,029	4,977	(2,414)	(415)
Balance at Mar. 31, 2024	4,126	1	2,038	4,855	(2,349)	(419)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	173			173
Dividends declared	(51)			(51)
Stock-based compensation	(9)		(9)
Other comprehensive income (loss), net of tax	4					4
Treasury stock activity	(65)				(65)
Balance at Jun. 30, 2024	$ 4,178	$ 1	$ 2,029	$ 4,977	$ (2,414)	$ (415)

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Changes in Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Dividends declared per share	$ 1.30	$ 1.24	$ 2.60	$ 2.48

Description of Business

Description of Business	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	DESCRIPTION OF BUSINESSHuntington 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 solutions that enable today's connected, all-domain force.

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	BASIS OF PRESENTATION Principles of Consolidation - The unaudited condensed 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-Q promulgated by the Securities and Exchange Commission ("SEC"). As used in the Notes to the Condensed Consolidated Financial Statements (Unaudited), 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. These unaudited condensed consolidated financial statements include all adjustments of a normal recurring nature considered necessary by management for a fair presentation of the unaudited condensed consolidated financial position, results of operations, and cash flows and should be read in conjunction with the Company's audited consolidated financial statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2023 (the "2023 Annual Report on Form 10-K"). The quarterly information is labeled using a calendar convention; that is, first quarter is consistently labeled as ending on March 31, second quarter as ending on June 30, and third quarter as ending on September 30. It is management's long-standing practice to establish interim closing dates using a "fiscal" calendar, which requires the businesses to close their books on a Friday near these quarter-end dates in order to normalize the potentially disruptive effects of quarterly closings on business processes. This practice only exists for interim periods within a reporting year. Accounting Estimates - The preparation of the Company's unaudited condensed consolidated financial statements requires management to make estimates and judgments that affect the reported amounts of assets and liabilities and the disclosure of contingencies at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Estimates have been prepared on the basis of the most current and best available information, and actual results could differ materially from those estimates. Fair Value of Financial Instruments - 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 $227 million and $220 million as of June 30, 2024, and December 31, 2023, respectively, and are presented within miscellaneous other assets within the unaudited condensed 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. The estimated fair values of the Company's total long-term debt (including current portion), excluding finance lease liabilities, as of June 30, 2024, and December 31, 2023, were $2,081 million and $2,309 million, respectively. The estimated fair values of the current portion of the Company's long-term debt, excluding finance lease liabilities, were $492 million and $229 million as of June 30, 2024, and December 31, 2023, respectively. 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 of the fair value hierarchy.

Accounting Standards Updates

Accounting Standards Updates	6 Months Ended
	Jun. 30, 2024
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Accounting Standards Updates	ACCOUNTING STANDARDS UPDATES In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The new guidance requires new tabular and narrative segment disclosures of significant expenses that are regularly reported to the chief operating decision maker and the nature of segment expense information used to manage operations. The new guidance is effective for annual reporting periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company is currently evaluating the impacts of the new guidance on its consolidated financial statements and related disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The new guidance requires disaggregated information about the effective tax rate reconciliation and additional information on taxes paid that meet a quantitative threshold. The new guidance is effective for annual reporting periods beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impacts of the new guidance on its consolidated financial statements and related disclosures.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2024
Stockholders' Equity Note [Abstract]
Stockholders' Equity [Text Block]	STOCKHOLDERS' EQUITY 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 six months ended June 30, 2024, the Company repurchased 473,438 shares at an aggregate cost of $128 million, including $1 million of accrued excise tax. For the six months ended June 30, 2023, the Company repurchased 75,849 shares at an aggregate cost of $16 million. The cost of purchased shares is recorded as treasury stock in the unaudited condensed consolidated statements of financial position. Dividends - The Company paid cash dividends totaling $102 million and $99 million for the six months ended June 30, 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 $415 million and $422 million as of June 30, 2024, and December 31, 2023, respectively. The changes in accumulated other comprehensive loss by component for the three and six months ended June 30, 2024 and 2023, were as follows: ($ in millions) Benefit Plans Other Total Balance as of March 31, 2023 $ (596) $ — $ (596) Amounts reclassified from accumulated other comprehensive loss Amortization of prior service cost 1 5 — 5 Tax expense for items of other comprehensive income (1) — (1) Net current period other comprehensive income 4 — 4 Balance as of June 30, 2023 $ (592) $ — $ (592) Balance as of March 31, 2024 $ (419) $ — $ (419) Amounts reclassified from accumulated other comprehensive loss Amortization of prior service cost 1 4 — 4 Net current period other comprehensive income 4 — 4 Balance as of June 30, 2024 $ (415) $ — $ (415) ($ in millions) Benefit Plans Other Total Balance as of December 31, 2022 $ (599) $ — $ (599) Amounts reclassified from accumulated other comprehensive loss Amortization of prior service cost 1 8 — 8 Amortization of net actuarial loss 1 1 — 1 Tax expense for items of other comprehensive income (2) — (2) Net current period other comprehensive income 7 — 7 Balance as of June 30, 2023 $ (592) $ — $ (592) Balance as of December 31, 2023 $ (422) $ — $ (422) Amounts reclassified from accumulated other comprehensive loss Amortization of prior service cost 1 7 — 7 Amortization of net actuarial loss 1 2 — 2 Tax expense for items of other comprehensive income (2) — (2) Net current period other comprehensive income 7 — 7 Balance as of June 30, 2024 $ (415) $ — $ (415) 1

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE Basic and diluted earnings per common share were calculated as follows: Three Months Ended June 30 Six Months Ended June 30 (in millions, except per share amounts) 2024 2023 2024 2023 Net earnings $ 173 $ 130 $ 326 $ 259 Weighted-average common shares outstanding 39.5 39.8 39.5 39.9 Net dilutive effect of stock awards — — — — Dilutive weighted-average common shares outstanding 39.5 39.8 39.5 39.9 Earnings per share - basic $ 4.38 $ 3.27 $ 8.25 $ 6.49 Earnings per share - diluted $ 4.38 $ 3.27 $ 8.25 $ 6.49 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 three and six months ended June 30, 2024, and 0.5 million RPSRs for each of the three and six months ended June 30, 2023.

Revenue

Revenue	6 Months Ended
	Jun. 30, 2024
Disaggregation of Revenue [Abstract]
Revenue from Contract with Customer	REVENUE 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. For more information on the Company's contracts, see “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II, Item 7 of the Company's 2023 Annual Report on Form 10-K. The following tables present revenues on a disaggregated basis: Three Months Ended June 30, 2024 ($ in millions) Ingalls Newport News Mission Technologies Intersegment Eliminations Total Revenue Type Product sales $ 631 $ 1,263 $ 32 $ — $ 1,926 Service revenues 80 271 700 — 1,051 Intersegment 1 1 33 (35) — Sales and service revenues $ 712 $ 1,535 $ 765 $ (35) $ 2,977 Customer Type Federal $ 711 $ 1,533 $ 730 $ — $ 2,974 Commercial — 1 1 — 2 State and local government agencies — — 1 — 1 Intersegment 1 1 33 (35) — Sales and service revenues $ 712 $ 1,535 $ 765 $ (35) $ 2,977 Contract Type Firm fixed-price $ 1 $ 2 $ 85 $ — $ 88 Fixed-price incentive 630 812 3 — 1,445 Cost-type 80 720 599 — 1,399 Time and materials — — 45 — 45 Intersegment 1 1 33 (35) — Sales and service revenues $ 712 $ 1,535 $ 765 $ (35) $ 2,977 Three Months Ended June 30, 2023 ($ in millions) Ingalls Newport News Mission Technologies Intersegment Eliminations Total Revenue Type Product sales $ 604 $ 1,247 $ 28 $ — $ 1,879 Service revenues 57 262 589 — 908 Intersegment 3 — 28 (31) — Sales and service revenues $ 664 $ 1,509 $ 645 $ (31) $ 2,787 Customer Type Federal $ 661 $ 1,509 $ 608 $ — $ 2,778 Commercial — — 9 — 9 Intersegment 3 — 28 (31) — Sales and service revenues $ 664 $ 1,509 $ 645 $ (31) $ 2,787 Contract Type Firm fixed-price $ — $ 2 $ 84 $ — $ 86 Fixed-price incentive 606 824 1 — 1,431 Cost-type 55 683 476 — 1,214 Time and materials — — 56 — 56 Intersegment 3 — 28 (31) — Sales and service revenues $ 664 $ 1,509 $ 645 $ (31) $ 2,787 Six Months Ended June 30, 2024 ($ in millions) Ingalls Newport News Mission Technologies Intersegment Eliminations Total Revenue Type Product sales $ 1,217 $ 2,439 $ 57 $ — $ 3,713 Service revenues 147 528 1,394 — 2,069 Intersegment 3 2 64 (69) — Sales and service revenues $ 1,367 $ 2,969 $ 1,515 $ (69) $ 5,782 Customer Type Federal $ 1,364 $ 2,966 $ 1,447 $ — $ 5,777 Commercial — 1 3 — 4 State and local government agencies — — 1 — 1 Intersegment 3 2 64 (69) — Sales and service revenues $ 1,367 $ 2,969 $ 1,515 $ (69) $ 5,782 Contract Type Firm fixed-price $ 2 $ 4 $ 167 $ — $ 173 Fixed-price incentive 1,216 1,600 5 — 2,821 Cost-type 146 1,363 1,192 — 2,701 Time and materials — — 87 — 87 Intersegment 3 2 64 (69) — Sales and service revenues $ 1,367 $ 2,969 $ 1,515 $ (69) $ 5,782 Six Months Ended June 30, 2023 ($ in millions) Ingalls Newport News Mission Technologies Intersegment Eliminations Total Revenue Type Product sales $ 1,138 $ 2,518 $ 52 $ — $ 3,708 Service revenues 98 496 1,159 — 1,753 Intersegment 5 1 58 (64) — Sales and service revenues $ 1,241 $ 3,015 $ 1,269 $ (64) $ 5,461 Customer Type Federal $ 1,236 $ 3,014 $ 1,189 $ — $ 5,439 Commercial — — 22 — 22 Intersegment 5 1 58 (64) — Sales and service revenues $ 1,241 $ 3,015 $ 1,269 $ (64) $ 5,461 Contract Type Firm fixed-price $ 2 $ 2 $ 159 $ — $ 163 Fixed-price incentive 1,139 1,653 1 — 2,793 Cost-type 95 1,359 943 — 2,397 Time and materials — — 108 — 108 Intersegment 5 1 58 (64) — Sales and service revenues $ 1,241 $ 3,015 $ 1,269 $ (64) $ 5,461 Three Months Ended June 30 Six Months Ended June 30 ($ in millions) 2024 2023 2024 2023 Major Programs Amphibious assault ships $ 413 $ 374 $ 765 $ 697 Surface combatants and coast guard cutters 297 287 597 540 Other 2 3 5 4 Total Ingalls 712 664 1,367 1,241 Aircraft carriers 831 828 1,623 1,665 Submarines 563 537 1,079 1,077 Other 141 144 267 273 Total Newport News 1,535 1,509 2,969 3,015 C5ISR, CEW&S, LVC 638 524 1,264 1,042 Other 127 121 251 227 Total Mission Technologies 765 645 1,515 1,269 Intersegment eliminations (35) (31) (69) (64) Sales and service revenues $ 2,977 $ 2,787 $ 5,782 $ 5,461 As of June 30, 2024, the Company had $48.5 billion of remaining performance obligations. The Company expects to recognize approximately 35% of its remaining performance obligations as revenue through 2025, an additional 30% through 2027, and the balance thereafter. Cumulative Catch-up Revenue Adjustments The following table presents the effect of net cumulative catch-up revenue adjustments on operating income and diluted earnings per share: Three Months Ended June 30 Six Months Ended June 30 ($ in millions, except per share amounts) 2024 2023 2024 2023 Effect on operating income $ 24 $ 20 $ 26 $ 29 Effect on diluted earnings per share $ 0.48 $ 0.41 $ 0.51 $ 0.58 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. For the three months ended June 30, 2024, cumulative catch-up revenue adjustments included a favorable adjustment of $28 million for contract adjustments and incentives on the refueling and complex overhaul ("RCOH") of USS John C. Stennis (CVN 74) at the Company's Newport News segment. For the six months ended June 30, 2024, no individual favorable cumulative catch-up revenue adjustment was material to the Company's unaudited condensed consolidated statements of operations and comprehensive income. For the three and six months ended June 30, 2024, no individual unfavorable cumulative catch-up revenue adjustment was material to the Company's unaudited condensed consolidated statements of operations and comprehensive income. For the three and six months ended June 30, 2023, no individual favorable cumulative catch-up revenue adjustment was material to the Company's unaudited condensed consolidated statements of operations and comprehensive income. For the three and six months ended June 30, 2023, no individual unfavorable cumulative catch-up revenue adjustment was material to the Company's unaudited condensed consolidated statements of operations and comprehensive income. Contract Balances The Company reports contract balances in a net contract asset or contract liability position on a contract-by-contract basis at the end of each reporting period. Net contract assets were comprised as follows: ($ in millions) June 30, 2024 December 31, 2023 Contract assets $ 1,694 $ 1,537 Contract liabilities 886 1,063 Net contract assets $ 808 $ 474

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION The following table presents segment results for the three and six months ended June 30, 2024 and 2023: Three Months Ended June 30 Six Months Ended June 30 ($ in millions) 2024 2023 2024 2023 Sales and Service Revenues Ingalls $ 712 $ 664 $ 1,367 $ 1,241 Newport News 1,535 1,509 2,969 3,015 Mission Technologies 765 645 1,515 1,269 Intersegment eliminations (35) (31) (69) (64) Sales and service revenues $ 2,977 $ 2,787 $ 5,782 $ 5,461 Operating Income Ingalls $ 56 $ 65 $ 116 $ 120 Newport News 111 95 193 179 Mission Technologies 36 9 64 26 Segment operating income 203 169 373 325 Non-segment factors affecting operating income Operating FAS/CAS Adjustment (15) (17) (32) (36) Non-current state income taxes 1 4 2 8 Operating income $ 189 $ 156 $ 343 $ 297 Operating FAS/CAS Adjustment - The Operating FAS/CAS Adjustment represents the difference between the service cost component of our pension and other postretirement benefit plan expense determined in accordance with U.S. GAAP Financial Accounting Standards ("FAS") and our pension and other postretirement expense under U.S. Government Cost Accounting Standards ("CAS"). The following table presents the Company's assets by segment: ($ in millions) June 30, 2024 December 31, 2023 Assets Ingalls $ 1,715 $ 1,619 Newport News 4,829 4,612 Mission Technologies 3,243 3,161 Corporate 1,523 1,823 Total assets $ 11,310 $ 11,215

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The Company's earnings are primarily domestic, and its effective income tax rates on earnings from operations for the three months ended June 30, 2024 and 2023, were 19.9% and 23.1%, respectively. For the six months ended June 30, 2024 and 2023, the Company's effective income tax rates on earnings from operations were 18.5% and 22.0%, respectively. The lower effective tax rate for each of the three and six months ended June 30, 2024, was primarily attributable to a taxable gain associated with the sale of the Company’s interest in the Titan joint venture recorded in 2023. For the three months ended June 30, 2024, the Company’s effective tax rate differed from the federal statutory corporate income tax rate of 21% primarily due to research and development tax credits. For the six months ended June 30, 2024, the Company’s effective tax rate differed from the federal statutory corporate income tax rate primarily due to research and development tax credits and income tax benefits associated with stock award settlement activity. The Company's unrecognized tax benefits increased by $2 million and $4 million during the three and six months ended June 30, 2024, respectively. As of June 30, 2024, the estimated amounts of the Company's unrecognized tax benefits, excluding interest and penalties, were liabilities of $102 million. Assuming a sustainment of these tax positions, a reversal of $79 million of the accrued amounts would favorably affect the Company's effective federal income tax rate in future periods. The potential decrease in unrecognized tax benefits in the next 12 months due to the potential lapse of the statute of limitations, as described in Note 12 of the Company’s 2023 Annual Report on Form 10-K, decreased from $17 million to $5 million as a result of an extension of the statute of limitations during the second quarter of 2024. The Company recognizes interest and penalties related to unrecognized tax benefits as income tax expense. For the three and six months ended June 30, 2024, interest resulting from the unrecognized tax benefits noted above increased income tax expense by $2 million and $3 million, respectively. 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 unrecognized state 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.

Investigations, Claims, and Lit

Investigations, Claims, and Litigation	6 Months Ended
	Jun. 30, 2024
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. Pursuant to FASB Accounting Standards Codification 450 - "Contingencies," the Company has accrued for losses associated with investigations, claims, and litigation when, and to the extent that, loss amounts related to the investigations, claims, and litigation are probable and can be reasonably estimated. The actual losses that might be incurred to resolve such investigations, claims, and litigation may be higher or lower than the amounts accrued. The Company has also provided 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 - On October 6, 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. COVID Insurance Claim - 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. No assurances can be provided regarding the ultimate resolution of this matter. 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. 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 these cases during the six months ended June 30, 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 condensed 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. The Company is party to various other claims, legal proceedings, and investigations that arise in the ordinary course of business, including U.S. Government investigations 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. Although the Company believes that the resolution of these other claims, legal proceedings, and investigations will not have a material effect on its condensed consolidated financial position, results of operations, or cash flows, the Company 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 these matters.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
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 and contract modifications 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 cost to complete environmental remediation is 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 estimated by management. These 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 June 30, 2024, the probable estimable future cost for environmental remediation was 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 June 30, 2024, the Company had $11 million in issued but undrawn letters of credit and $360 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 was in negotiations with a Mission Technologies customer beginning January 2023 to address issues related to a manufacturing contract, and the parties settled the matter in May 2024. The Company has recorded losses relating to the contract that were not material to the Company's consolidated financial position, results of operations, or cash flows. The Company previously disclosed an issue regarding the degree of corrosion of certain steel plates used to fabricate Friedman (NSC 11). The Company’s expectation regarding the resolution of the matter with the customer is included in contract cost and profit estimates. Those estimates include management's best assessment of the underlying causal events, contractual entitlements, and the probability of successful resolution with the customer. The Company does not expect the final resolution of the matter to have a material impact to the Company's consolidated financial position, results of operations, or cash flows. Collective Bargaining Agreements - Of the Company's more than 44,000 employees, approximately 45% are covered by a total of nine collective bargaining agreements and one site stabilization agreement. The Company believes its relationship with its employees is satisfactory.

Employee Pension And Other Post

Employee Pension And Other Postretirement Benefits	6 Months Ended
	Jun. 30, 2024
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. The costs of the Company's defined benefit pension plans and other postretirement benefit plans for the three and six months ended June 30, 2024 and 2023, were as follows: Three Months Ended June 30 Six Months Ended June 30 Pension Benefits Other Benefits Pension Benefits Other Benefits ($ in millions) 2024 2023 2024 2023 2024 2023 2024 2023 Components of net periodic benefit cost Service cost $ 27 $ 28 $ 2 $ 2 $ 54 $ 56 $ 3 $ 3 Interest cost 81 86 4 5 161 172 9 10 Expected return on plan assets (135) (133) — — (269) (265) — — Amortization of prior service cost (credit) 4 5 — — 8 9 (1) (1) Amortization of net actuarial loss (gain) 4 4 (4) (4) 9 8 (7) (7) Net periodic benefit (income) cost $ (19) $ (10) $ 2 $ 3 $ (37) $ (20) $ 4 $ 5 The Company made the following contributions to its defined benefit pension plans and other postretirement benefit plans for the six months ended June 30, 2024 and 2023: Six Months Ended June 30 ($ in millions) 2024 2023 Pension plans Discretionary Qualified $ — $ — Non-qualified 6 5 Other benefit plans 18 16 Total contributions $ 24 $ 21 As of June 30, 2024, the Company anticipates no further significant cash contributions to its qualified defined benefit pension plans in 2024.

Stock Compensation Plans

Stock Compensation Plans	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock Compensation Plans	STOCK COMPENSATION PLANS During the six months ended June 30, 2024 and 2023, the Company issued new stock awards as follows: Restricted Performance Stock Rights - For the six months ended June 30, 2024, the Company granted approximately 0.1 million RPSRs at a weighted average share price of $288.33. These rights are subject to cliff vesting on December 31, 2026. For the six months ended June 30, 2023, the Company granted approximately 0.2 million RPSRs at a weighted average share price of $214.92. These rights are subject to cliff vesting on 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 six months ended June 30, 2024, the Company granted approximately 0.1 million compensation RSRs at a weighted average share price of $288.26. 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 six months ended June 30, 2023. Retention Restricted Stock Rights - Retention stock awards are granted to key employees primarily to incentivize continued employment with the Company. For the six months ended June 30, 2024, the Company granted approximately 1,200 retention RSRs at a weighted average share price of $288.53, with cliff vesting one two The Company also received transfers of stock awards from employees in satisfaction of tax withholding obligations associated with the vesting of stock awards during the period. Because the stock awards are surrendered in lieu of payments of cash to settle tax obligations and the stock is not issued, the Company does not account for these transfers as treasury stock. The following table summarizes the status of the Company's outstanding stock awards as of June 30, 2024: Stock Awards Weighted-Average Weighted-Average Remaining Contractual Term Total stock awards 550 $ 221.69 1.2

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net earnings (loss)	$ 173	$ 130	$ 326	$ 259

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
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

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles of Consolidation	Principles of Consolidation - The unaudited condensed 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-Q promulgated by the Securities and Exchange Commission ("SEC"). As used in the Notes to the Condensed Consolidated Financial Statements (Unaudited), 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. These unaudited condensed consolidated financial statements include all adjustments of a normal recurring nature considered necessary by management for a fair presentation of the unaudited condensed consolidated financial position, results of operations, and cash flows and should be read in conjunction with the Company's audited consolidated financial statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2023 (the "2023 Annual Report on Form 10-K").
Fiscal Period Policy	The quarterly information is labeled using a calendar convention; that is, first quarter is consistently labeled as ending on March 31, second quarter as ending on June 30, and third quarter as ending on September 30. It is management's long-standing practice to establish interim closing dates using a "fiscal" calendar, which requires the businesses to close their books on a Friday near these quarter-end dates in order to normalize the potentially disruptive effects of quarterly closings on business processes. This practice only exists for interim periods within a reporting year.
Accounting Estimates	Accounting Estimates
Fair Value of Financial Instruments	Fair Value of Financial Instruments - 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 $227 million and $220 million as of June 30, 2024, and December 31, 2023, respectively, and are presented within miscellaneous other assets within the unaudited condensed 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. The estimated fair values of the Company's total long-term debt (including current portion), excluding finance lease liabilities, as of June 30, 2024, and December 31, 2023, were $2,081 million and $2,309 million, respectively. The estimated fair values of the current portion of the Company's long-term debt, excluding finance lease liabilities, were $492 million and $229 million as of June 30, 2024, and December 31, 2023, respectively. 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 of the fair value hierarchy.

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2024
Stockholders' Equity Note [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The changes in accumulated other comprehensive loss by component for the three and six months ended June 30, 2024 and 2023, were as follows: ($ in millions) Benefit Plans Other Total Balance as of March 31, 2023 $ (596) $ — $ (596) Amounts reclassified from accumulated other comprehensive loss Amortization of prior service cost 1 5 — 5 Tax expense for items of other comprehensive income (1) — (1) Net current period other comprehensive income 4 — 4 Balance as of June 30, 2023 $ (592) $ — $ (592) Balance as of March 31, 2024 $ (419) $ — $ (419) Amounts reclassified from accumulated other comprehensive loss Amortization of prior service cost 1 4 — 4 Net current period other comprehensive income 4 — 4 Balance as of June 30, 2024 $ (415) $ — $ (415) ($ in millions) Benefit Plans Other Total Balance as of December 31, 2022 $ (599) $ — $ (599) Amounts reclassified from accumulated other comprehensive loss Amortization of prior service cost 1 8 — 8 Amortization of net actuarial loss 1 1 — 1 Tax expense for items of other comprehensive income (2) — (2) Net current period other comprehensive income 7 — 7 Balance as of June 30, 2023 $ (592) $ — $ (592) Balance as of December 31, 2023 $ (422) $ — $ (422) Amounts reclassified from accumulated other comprehensive loss Amortization of prior service cost 1 7 — 7 Amortization of net actuarial loss 1 2 — 2 Tax expense for items of other comprehensive income (2) — (2) Net current period other comprehensive income 7 — 7 Balance as of June 30, 2024 $ (415) $ — $ (415) 1

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Calculation of Basic and Diluted Earnings Per Share	Basic and diluted earnings per common share were calculated as follows: Three Months Ended June 30 Six Months Ended June 30 (in millions, except per share amounts) 2024 2023 2024 2023 Net earnings $ 173 $ 130 $ 326 $ 259 Weighted-average common shares outstanding 39.5 39.8 39.5 39.9 Net dilutive effect of stock awards — — — — Dilutive weighted-average common shares outstanding 39.5 39.8 39.5 39.9 Earnings per share - basic $ 4.38 $ 3.27 $ 8.25 $ 6.49 Earnings per share - diluted $ 4.38 $ 3.27 $ 8.25 $ 6.49

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2024
Disaggregation of Revenue [Abstract]
Disaggregation of Revenue [Table Text Block]	The following tables present revenues on a disaggregated basis: Three Months Ended June 30, 2024 ($ in millions) Ingalls Newport News Mission Technologies Intersegment Eliminations Total Revenue Type Product sales $ 631 $ 1,263 $ 32 $ — $ 1,926 Service revenues 80 271 700 — 1,051 Intersegment 1 1 33 (35) — Sales and service revenues $ 712 $ 1,535 $ 765 $ (35) $ 2,977 Customer Type Federal $ 711 $ 1,533 $ 730 $ — $ 2,974 Commercial — 1 1 — 2 State and local government agencies — — 1 — 1 Intersegment 1 1 33 (35) — Sales and service revenues $ 712 $ 1,535 $ 765 $ (35) $ 2,977 Contract Type Firm fixed-price $ 1 $ 2 $ 85 $ — $ 88 Fixed-price incentive 630 812 3 — 1,445 Cost-type 80 720 599 — 1,399 Time and materials — — 45 — 45 Intersegment 1 1 33 (35) — Sales and service revenues $ 712 $ 1,535 $ 765 $ (35) $ 2,977 Three Months Ended June 30, 2023 ($ in millions) Ingalls Newport News Mission Technologies Intersegment Eliminations Total Revenue Type Product sales $ 604 $ 1,247 $ 28 $ — $ 1,879 Service revenues 57 262 589 — 908 Intersegment 3 — 28 (31) — Sales and service revenues $ 664 $ 1,509 $ 645 $ (31) $ 2,787 Customer Type Federal $ 661 $ 1,509 $ 608 $ — $ 2,778 Commercial — — 9 — 9 Intersegment 3 — 28 (31) — Sales and service revenues $ 664 $ 1,509 $ 645 $ (31) $ 2,787 Contract Type Firm fixed-price $ — $ 2 $ 84 $ — $ 86 Fixed-price incentive 606 824 1 — 1,431 Cost-type 55 683 476 — 1,214 Time and materials — — 56 — 56 Intersegment 3 — 28 (31) — Sales and service revenues $ 664 $ 1,509 $ 645 $ (31) $ 2,787 Six Months Ended June 30, 2024 ($ in millions) Ingalls Newport News Mission Technologies Intersegment Eliminations Total Revenue Type Product sales $ 1,217 $ 2,439 $ 57 $ — $ 3,713 Service revenues 147 528 1,394 — 2,069 Intersegment 3 2 64 (69) — Sales and service revenues $ 1,367 $ 2,969 $ 1,515 $ (69) $ 5,782 Customer Type Federal $ 1,364 $ 2,966 $ 1,447 $ — $ 5,777 Commercial — 1 3 — 4 State and local government agencies — — 1 — 1 Intersegment 3 2 64 (69) — Sales and service revenues $ 1,367 $ 2,969 $ 1,515 $ (69) $ 5,782 Contract Type Firm fixed-price $ 2 $ 4 $ 167 $ — $ 173 Fixed-price incentive 1,216 1,600 5 — 2,821 Cost-type 146 1,363 1,192 — 2,701 Time and materials — — 87 — 87 Intersegment 3 2 64 (69) — Sales and service revenues $ 1,367 $ 2,969 $ 1,515 $ (69) $ 5,782 Six Months Ended June 30, 2023 ($ in millions) Ingalls Newport News Mission Technologies Intersegment Eliminations Total Revenue Type Product sales $ 1,138 $ 2,518 $ 52 $ — $ 3,708 Service revenues 98 496 1,159 — 1,753 Intersegment 5 1 58 (64) — Sales and service revenues $ 1,241 $ 3,015 $ 1,269 $ (64) $ 5,461 Customer Type Federal $ 1,236 $ 3,014 $ 1,189 $ — $ 5,439 Commercial — — 22 — 22 Intersegment 5 1 58 (64) — Sales and service revenues $ 1,241 $ 3,015 $ 1,269 $ (64) $ 5,461 Contract Type Firm fixed-price $ 2 $ 2 $ 159 $ — $ 163 Fixed-price incentive 1,139 1,653 1 — 2,793 Cost-type 95 1,359 943 — 2,397 Time and materials — — 108 — 108 Intersegment 5 1 58 (64) — Sales and service revenues $ 1,241 $ 3,015 $ 1,269 $ (64) $ 5,461 Three Months Ended June 30 Six Months Ended June 30 ($ in millions) 2024 2023 2024 2023 Major Programs Amphibious assault ships $ 413 $ 374 $ 765 $ 697 Surface combatants and coast guard cutters 297 287 597 540 Other 2 3 5 4 Total Ingalls 712 664 1,367 1,241 Aircraft carriers 831 828 1,623 1,665 Submarines 563 537 1,079 1,077 Other 141 144 267 273 Total Newport News 1,535 1,509 2,969 3,015 C5ISR, CEW&S, LVC 638 524 1,264 1,042 Other 127 121 251 227 Total Mission Technologies 765 645 1,515 1,269 Intersegment eliminations (35) (31) (69) (64) Sales and service revenues $ 2,977 $ 2,787 $ 5,782 $ 5,461
Schedule of Change in Accounting Estimate	The following table presents the effect of net cumulative catch-up revenue adjustments on operating income and diluted earnings per share: Three Months Ended June 30 Six Months Ended June 30 ($ in millions, except per share amounts) 2024 2023 2024 2023 Effect on operating income $ 24 $ 20 $ 26 $ 29 Effect on diluted earnings per share $ 0.48 $ 0.41 $ 0.51 $ 0.58
Contract with Customer, Contract Asset, Contract Liability, and Receivable	Net contract assets were comprised as follows: ($ in millions) June 30, 2024 December 31, 2023 Contract assets $ 1,694 $ 1,537 Contract liabilities 886 1,063 Net contract assets $ 808 $ 474

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Segment operating results	The following table presents segment results for the three and six months ended June 30, 2024 and 2023: Three Months Ended June 30 Six Months Ended June 30 ($ in millions) 2024 2023 2024 2023 Sales and Service Revenues Ingalls $ 712 $ 664 $ 1,367 $ 1,241 Newport News 1,535 1,509 2,969 3,015 Mission Technologies 765 645 1,515 1,269 Intersegment eliminations (35) (31) (69) (64) Sales and service revenues $ 2,977 $ 2,787 $ 5,782 $ 5,461 Operating Income Ingalls $ 56 $ 65 $ 116 $ 120 Newport News 111 95 193 179 Mission Technologies 36 9 64 26 Segment operating income 203 169 373 325 Non-segment factors affecting operating income Operating FAS/CAS Adjustment (15) (17) (32) (36) Non-current state income taxes 1 4 2 8 Operating income $ 189 $ 156 $ 343 $ 297
Segment assets	The following table presents the Company's assets by segment: ($ in millions) June 30, 2024 December 31, 2023 Assets Ingalls $ 1,715 $ 1,619 Newport News 4,829 4,612 Mission Technologies 3,243 3,161 Corporate 1,523 1,823 Total assets $ 11,310 $ 11,215

Employee Pension and Other Po_2

Employee Pension and Other Postretirement Benefits (Tables)	6 Months Ended
	Jun. 30, 2024
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 three and six months ended June 30, 2024 and 2023, were as follows: Three Months Ended June 30 Six Months Ended June 30 Pension Benefits Other Benefits Pension Benefits Other Benefits ($ in millions) 2024 2023 2024 2023 2024 2023 2024 2023 Components of net periodic benefit cost Service cost $ 27 $ 28 $ 2 $ 2 $ 54 $ 56 $ 3 $ 3 Interest cost 81 86 4 5 161 172 9 10 Expected return on plan assets (135) (133) — — (269) (265) — — Amortization of prior service cost (credit) 4 5 — — 8 9 (1) (1) Amortization of net actuarial loss (gain) 4 4 (4) (4) 9 8 (7) (7) Net periodic benefit (income) cost $ (19) $ (10) $ 2 $ 3 $ (37) $ (20) $ 4 $ 5
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 six months ended June 30, 2024 and 2023: Six Months Ended June 30 ($ in millions) 2024 2023 Pension plans Discretionary Qualified $ — $ — Non-qualified 6 5 Other benefit plans 18 16 Total contributions $ 24 $ 21

Stock Compensation Plans (Table

Stock Compensation Plans (Tables)	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Status of Stock Awards	The following table summarizes the status of the Company's outstanding stock awards as of June 30, 2024: Stock Awards Weighted-Average Weighted-Average Remaining Contractual Term Total stock awards 550 $ 221.69 1.2

Description of Business (Narrat

Description of Business (Narrative) (Details)	6 Months Ended
	Jun. 30, 2024 segments
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	3

Basis of Presentation (Narrativ

Basis of Presentation (Narrative) (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Assets held in rabbi trusts	$ 227	$ 220
Fair value of total long term debt, excluding finance lease liabilities	2,081	2,309
Fair value of current portion of long-term debt, excluding finance lease liabilities	$ 492	$ 229

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2024	Jan. 30, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022	Nov. 05, 2019
Stockholders' Equity [Line Items]
Amount authorized for stock repurchase program						$ 3,800				$ 3,200
Repurchased shares of treasury stock			473,438	75,849
Treasury stock activity	$ 65	$ 7	$ 128	$ 16
Dividends paid			102	99
Accumulated other comprehensive income (loss)	(415)	(592)	(415)	(592)	$ (419)		$ (422)	$ (596)	$ (599)
Benefit Plans
Stockholders' Equity [Line Items]
Accumulated other comprehensive income (loss)	(415)	(592)	(415)	(592)	$ (419)		$ (422)	$ (596)	$ (599)
Treasury Stock, Common
Stockholders' Equity [Line Items]
Treasury stock activity	$ 65	$ 7	128	$ 16
Excise tax on share repurchases			$ 1

Stockholders' Equity Accumulate

Stockholders' Equity Accumulated Other Comprehensive Income (Loss) (Table) (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance, beginning		$ (419)	$ (596)	$ (422)	$ (599)
Amortization of prior service cost (credit)	[1]	4	5	7	8
Amortization of net actuarial loss (gain)	[1]			2	1
Tax benefit (expense) for items of other comprehensive income			(1)	(2)	(2)
Other comprehensive income (loss), net of tax		4	4	7	7
Balance, ending		(415)	(592)	(415)	(592)
Reclassification out of AOCI
Accumulated Other Comprehensive Income (Loss) [Line Items]
Tax benefit (expense) for items of other comprehensive income			(1)	(2)	(2)
Maximum | Reclassification out of AOCI
Accumulated Other Comprehensive Income (Loss) [Line Items]
Tax benefit (expense) for items of other comprehensive income		(1)
Benefit Plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance, beginning		(419)	(596)	(422)	(599)
Amortization of prior service cost (credit)	[1]	4	5	7	8
Amortization of net actuarial loss (gain)	[1]			2	1
Tax benefit (expense) for items of other comprehensive income			(1)	(2)	(2)
Other comprehensive income (loss), net of tax		4	4	7	7
Balance, ending		$ (415)	$ (592)	$ (415)	$ (592)
[1]These accumulated comprehensive loss components are included in the computation of net periodic benefit cost. See Note 11: Employee Pension and Other Postretirement Benefits. The tax expense recorded in stockholders' equity for the amounts reclassified from accumulated other comprehensive loss for the three months ended June 30, 2024 and 2023, was less than $1 million and $1 million, respectively. The tax expense recorded in stockholders' equity for the amounts reclassified from accumulated other comprehensive loss for each of the six months ended June 30, 2024 and 2023, was $2 million.

Basic and Diluted Earnings Per

Basic and Diluted Earnings Per Share (Table) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Net earnings (loss)	$ 173	$ 130	$ 326	$ 259
Weighted-average common shares outstanding (in shares)	39.5	39.8	39.5	39.9
Dilutive weighted-average common shares outstanding (in shares)	39.5	39.8	39.5	39.9
Earnings (loss) per share - basic (in dollars per share)	$ 4.38	$ 3.27	$ 8.25	$ 6.49
Earnings (loss) per share - diluted (in dollars per share)	$ 4.38	$ 3.27	$ 8.25	$ 6.49

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Restricted performance stock rights
Antidilutive Securities Excluded from Computation of Earnings Per Share
Number of shares from stock awards excluded from computation of earnings per share	0.4	0.5	0.4	0.5
Restricted stock rights
Antidilutive Securities Excluded from Computation of Earnings Per Share
Number of shares from stock awards excluded from computation of earnings per share	0.1		0.1

Revenue (Table) (Details)

Revenue (Table) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Sales and service revenues	$ 2,977	$ 2,787	$ 5,782	$ 5,461
Intersegment Elimination
Disaggregation of Revenue [Line Items]
Sales and service revenues	(35)	(31)	(69)	(64)
Firm fixed-price
Disaggregation of Revenue [Line Items]
Sales and service revenues	88	86	173	163
Fixed-price incentive
Disaggregation of Revenue [Line Items]
Sales and service revenues	1,445	1,431	2,821	2,793
Cost-type
Disaggregation of Revenue [Line Items]
Sales and service revenues	1,399	1,214	2,701	2,397
Time-and-materials
Disaggregation of Revenue [Line Items]
Sales and service revenues	45	56	87	108
Federal
Disaggregation of Revenue [Line Items]
Sales and service revenues	2,974	2,778	5,777	5,439
Commercial
Disaggregation of Revenue [Line Items]
Sales and service revenues	2	9	4	22
State and local government agencies
Disaggregation of Revenue [Line Items]
Sales and service revenues	1		1
Product [Member]
Disaggregation of Revenue [Line Items]
Sales and service revenues	1,926	1,879	3,713	3,708
Service [Member]
Disaggregation of Revenue [Line Items]
Sales and service revenues	1,051	908	2,069	1,753
Ingalls | Intersegment Elimination
Disaggregation of Revenue [Line Items]
Sales and service revenues	1	3	3	5
Ingalls | Operating Segments
Disaggregation of Revenue [Line Items]
Sales and service revenues	712	664	1,367	1,241
Ingalls | Amphibious assault ships | Operating Segments
Disaggregation of Revenue [Line Items]
Sales and service revenues	413	374	765	697
Ingalls | Surface combatants and coast guard cutters | Operating Segments
Disaggregation of Revenue [Line Items]
Sales and service revenues	297	287	597	540
Ingalls | Other programs | Operating Segments
Disaggregation of Revenue [Line Items]
Sales and service revenues	2	3	5	4
Ingalls | Firm fixed-price | Operating Segments
Disaggregation of Revenue [Line Items]
Sales and service revenues	1		2	2
Ingalls | Fixed-price incentive | Operating Segments
Disaggregation of Revenue [Line Items]
Sales and service revenues	630	606	1,216	1,139
Ingalls | Cost-type | Operating Segments
Disaggregation of Revenue [Line Items]
Sales and service revenues	80	55	146	95
Ingalls | Federal | Operating Segments
Disaggregation of Revenue [Line Items]
Sales and service revenues	711	661	1,364	1,236
Ingalls | Product [Member] | Operating Segments
Disaggregation of Revenue [Line Items]
Sales and service revenues	631	604	1,217	1,138
Ingalls | Service [Member] | Operating Segments
Disaggregation of Revenue [Line Items]
Sales and service revenues	80	57	147	98
Newport News | Intersegment Elimination
Disaggregation of Revenue [Line Items]
Sales and service revenues	1		2	1
Newport News | Operating Segments
Disaggregation of Revenue [Line Items]
Sales and service revenues	1,535	1,509	2,969	3,015
Newport News | Aircraft carriers | Operating Segments
Disaggregation of Revenue [Line Items]
Sales and service revenues	831	828	1,623	1,665
Newport News | Submarines | Operating Segments
Disaggregation of Revenue [Line Items]
Sales and service revenues	563	537	1,079	1,077
Newport News | Other programs | Operating Segments
Disaggregation of Revenue [Line Items]
Sales and service revenues	141	144	267	273
Newport News | Firm fixed-price | Operating Segments
Disaggregation of Revenue [Line Items]
Sales and service revenues	2	2	4	2
Newport News | Fixed-price incentive | Operating Segments
Disaggregation of Revenue [Line Items]
Sales and service revenues	812	824	1,600	1,653
Newport News | Cost-type | Operating Segments
Disaggregation of Revenue [Line Items]
Sales and service revenues	720	683	1,363	1,359
Newport News | Federal | Operating Segments
Disaggregation of Revenue [Line Items]
Sales and service revenues	1,533	1,509	2,966	3,014
Newport News | Commercial | Operating Segments
Disaggregation of Revenue [Line Items]
Sales and service revenues	1		1
Newport News | Product [Member] | Operating Segments
Disaggregation of Revenue [Line Items]
Sales and service revenues	1,263	1,247	2,439	2,518
Newport News | Service [Member] | Operating Segments
Disaggregation of Revenue [Line Items]
Sales and service revenues	271	262	528	496
Mission Technologies | Intersegment Elimination
Disaggregation of Revenue [Line Items]
Sales and service revenues	33	28	64	58
Mission Technologies | Operating Segments
Disaggregation of Revenue [Line Items]
Sales and service revenues	765	645	1,515	1,269
Mission Technologies | C5ISR, CEW&S, LVC | Operating Segments
Disaggregation of Revenue [Line Items]
Sales and service revenues	638	524	1,264	1,042
Mission Technologies | Other programs | Operating Segments
Disaggregation of Revenue [Line Items]
Sales and service revenues	127	121	251	227
Mission Technologies | Firm fixed-price | Operating Segments
Disaggregation of Revenue [Line Items]
Sales and service revenues	85	84	167	159
Mission Technologies | Fixed-price incentive | Operating Segments
Disaggregation of Revenue [Line Items]
Sales and service revenues	3	1	5	1
Mission Technologies | Cost-type | Operating Segments
Disaggregation of Revenue [Line Items]
Sales and service revenues	599	476	1,192	943
Mission Technologies | Time-and-materials | Operating Segments
Disaggregation of Revenue [Line Items]
Sales and service revenues	45	56	87	108
Mission Technologies | Federal | Operating Segments
Disaggregation of Revenue [Line Items]
Sales and service revenues	730	608	1,447	1,189
Mission Technologies | Commercial | Operating Segments
Disaggregation of Revenue [Line Items]
Sales and service revenues	1	9	3	22
Mission Technologies | State and local government agencies | Operating Segments
Disaggregation of Revenue [Line Items]
Sales and service revenues	1		1
Mission Technologies | Product [Member] | Operating Segments
Disaggregation of Revenue [Line Items]
Sales and service revenues	32	28	57	52
Mission Technologies | Service [Member] | Operating Segments
Disaggregation of Revenue [Line Items]
Sales and service revenues	$ 700	$ 589	$ 1,394	$ 1,159

Revenue (Narrative) (Details)

Revenue (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Abstract]
Revenue, Remaining Performance Obligation, Amount	$ 48,500		$ 48,500
Revenue, performance obligation, recognition percentage, year two			35%
Revenue, performance obligation, recognition percentage, year four			30%
Increase (Decrease) in Net Contract Assets			$ 334
Contract with Customer, Liability, Revenue Recognized	283	$ 122	924	$ 673
Change in Accounting Estimate
Operating Income (Loss)	$ 189	$ 156	$ 343	$ 297
Diluted earnings (loss) per share	$ 4.38	$ 3.27	$ 8.25	$ 6.49
Contracts Accounted for under Percentage of Completion
Change in Accounting Estimate
Operating Income (Loss)	$ 24	$ 20	$ 26	$ 29
Diluted earnings (loss) per share	$ 0.48	$ 0.41	$ 0.51	$ 0.58
Contracts Accounted for under Percentage of Completion | Newport News contract
Change in Accounting Estimate
Operating Income (Loss)	$ 28

Change in Accounting Estimate (

Change in Accounting Estimate (Table) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Change in Accounting Estimate
Operating Income (Loss)	$ 189	$ 156	$ 343	$ 297
Diluted earnings (loss) per share	$ 4.38	$ 3.27	$ 8.25	$ 6.49
Contracts Accounted for under Percentage of Completion
Change in Accounting Estimate
Operating Income (Loss)	$ 24	$ 20	$ 26	$ 29
Diluted earnings (loss) per share	$ 0.48	$ 0.41	$ 0.51	$ 0.58

Net Contract Asset (Table) (Det

Net Contract Asset (Table) (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Contract assets	$ 1,694	$ 1,537
Contract liabilities	886	1,063
Net contract assets	$ 808	$ 474

Segment Operating Results (Tabl

Segment Operating Results (Table) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Sales and Service Revenues
Sales and service revenue	$ 2,977	$ 2,787	$ 5,782	$ 5,461
Operating Income (Loss)
Operating income (loss)	189	156	343	297
Intersegment Elimination
Sales and Service Revenues
Sales and service revenue	(35)	(31)	(69)	(64)
Operating Segments
Operating Income (Loss)
Operating income (loss)	203	169	373	325
Corporate, Non-Segment
Non-segment factors affecting operating income (loss)
Operating FAS/CAS Adjustment	(15)	(17)	(32)	(36)
Non-current state income taxes	1	4	2	8
Ingalls | Intersegment Elimination
Sales and Service Revenues
Sales and service revenue	1	3	3	5
Ingalls | Operating Segments
Sales and Service Revenues
Sales and service revenue	712	664	1,367	1,241
Operating Income (Loss)
Operating income (loss)	56	65	116	120
Newport News | Intersegment Elimination
Sales and Service Revenues
Sales and service revenue	1		2	1
Newport News | Operating Segments
Sales and Service Revenues
Sales and service revenue	1,535	1,509	2,969	3,015
Operating Income (Loss)
Operating income (loss)	111	95	193	179
Mission Technologies | Intersegment Elimination
Sales and Service Revenues
Sales and service revenue	33	28	64	58
Mission Technologies | Operating Segments
Sales and Service Revenues
Sales and service revenue	765	645	1,515	1,269
Operating Income (Loss)
Operating income (loss)	$ 36	$ 9	$ 64	$ 26

Segment Assets (Table) (Details

Segment Assets (Table) (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Segment Reporting Information
Assets	$ 11,310	$ 11,215
Ingalls
Segment Reporting Information
Assets	1,715	1,619
Newport News
Segment Reporting Information
Assets	4,829	4,612
Mission Technologies
Segment Reporting Information
Assets	3,243	3,161
Corporate
Segment Reporting Information
Assets	$ 1,523	$ 1,823

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Income Tax Contingency [Line Items]
Effective income tax rate	19.90%	23.10%	18.50%	22%
Federal Statutory Income Tax Rate, Percent	21%	21%	21%	21%
Unrecognized Tax Benefits, Period Increase (Decrease)	$ 2		$ 4
Unrecognized Tax Benefits	102		102
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	79		79
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit	(5)		(5)		$ (17)
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense	$ 2		$ 3

Investigations, Claims, and L_2

Investigations, Claims, and Litigation (Narrative) (Details)	6 Months Ended
	Jun. 30, 2024 numberOfReinsurers
Loss Contingencies
Number of reinsurers/defendants	32
Arbitration
Loss Contingencies
Number of reinsurers/defendants	6

Commitments and Contingencies (

Commitments and Contingencies (Narrative) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Commitments and Contingencies
Percentage of workforce subject to Collective Bargaining Arrangements	45%
Number of Collective Bargaining Agreements	9
Number of site stabilization agreements	1
Surety Bonds Outstanding
Commitments and Contingencies
Surety bonds outstanding	$ 360
Revolving Credit Facility [Member]
Commitments and Contingencies
Letters of credit issued but undrawn	$ 11
Minimum
Commitments and Contingencies
Entity Number of Employees	44,000

Employee Pension and Other Po_3

Employee Pension and Other Postretirement Benefits Net Benefit Costs (Table) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pension Benefits
Defined Benefit Plan Disclosure
Service cost	$ 27	$ 28	$ 54	$ 56
Interest cost	81	86	161	172
Expected return on plan assets	(135)	(133)	(269)	(265)
Amortization of prior service cost (credit)	4	5	8	9
Amortization of net actuarial loss (gain)	4	4	9	8
Net periodic benefit (income) cost	(19)	(10)	(37)	(20)
Other Benefits
Defined Benefit Plan Disclosure
Service cost	2	2	3	3
Interest cost	4	5	9	10
Amortization of prior service cost (credit)			(1)	(1)
Amortization of net actuarial loss (gain)	(4)	(4)	(7)	(7)
Net periodic benefit (income) cost	$ 2	$ 3	$ 4	$ 5

Employee Pension and Other Po_4

Employee Pension and Other Postretirement Benefits Cash Contributions (Table) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Defined Benefit Plan Disclosure
Other benefit plans	$ 18	$ 16
Total contributions	24	21
Discretionary Contribution | Non-qualified
Defined Benefit Plan Disclosure
Pension contributions	$ 6	$ 5

Stock Compensation Plans (Narra

Stock Compensation Plans (Narrative) (Details) - $ / shares	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Stock awards
Stock rights, weighted-average grant date fair value	$ 221.69
Restricted performance stock rights
Stock awards
Stock rights, granted	100,000	200,000
Stock rights, weighted-average grant date fair value	$ 288.33	$ 214.92
Restricted performance stock rights | Minimum
Stock awards
Restricted performance stock rights ultimate vesting percentage	0%
Restricted performance stock rights | Maximum
Stock awards
Restricted performance stock rights ultimate vesting percentage	200%
Restricted stock rights
Stock awards
Stock rights, granted	100,000
Stock rights, weighted-average grant date fair value	$ 288.26
Restricted stock rights | Share-Based Payment Arrangement, Tranche One
Stock awards
Stock rights, vesting percentage	33.33%
Restricted stock rights | Share-Based Payment Arrangement, Tranche Two
Stock awards
Stock rights, vesting percentage	33.33%
Restricted stock rights | Share-Based Payment Arrangement, Tranche Three
Stock awards
Stock rights, vesting percentage	33.33%
Retention restricted stock rights
Stock awards
Stock rights, granted	1,200	7,400
Stock rights, weighted-average grant date fair value	$ 288.53	$ 210.90
Retention restricted stock rights | Minimum
Stock awards
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period	1 year	2 years
Retention restricted stock rights | Maximum
Stock awards
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period	2 years	3 years

Schedule of Status of Stock Awa

Schedule of Status of Stock Awards (Table) (Details) shares in Thousands	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Stock awards
Stock awards, outstanding | shares	550
Stock awards, weighted-average grant date fair value | $ / shares	$ 221.69
Stock awards, weighted-average remaining contractual term	1 year 2 months 12 days