HUNTINGTON INGALLS INDUSTRIES, INC. (HII) [Rocket]

In millions, except per share items	Dec-31-21	Dec-31-20	Dec-31-19	Dec-05-19	Dec-31-18	Dec-05-18	Dec-31-17	Dec-05-17
	10-K	10-K	10-K	8-K	10-K	8-K	10-K	8-K
Revenues:
Government Contracts Concentration Risk	9,048	8,893	8,454		7,767		7,069
Newport News Shipbuilding	5,663	5,571	5,231		4,796		4,164
Ingalls	2,357	2,678	2,555		2,607		2,420
Total revenues [+]	9,524	9,361	8,899	8,899	8,176	8,176	7,441	7,441
Products				6,265		6,023		5,573
Services				2,634		2,153		1,868
Other income	2	1			14
Revenue growth [+]	1.7%	5.2%	8.8%	8.8%	9.9%	9.9%	5.3%
Government Contracts Concentration Risk	1.7%	5.2%	8.8%		9.9%		5.3%
Newport News Shipbuilding	1.7%	6.5%	9.1%		15.2%		1.8%
Ingalls	-12.0%	4.8%	-2.0%		7.7%		1.3%
Technical Solutions	-0.7%	2.5%	36.5%		-4.8%		37.8%
Cost of goods sold [+]	8,113	7,658	7,346	7,368	6,354	6,385	5,801	5,813
Cost of product sales				5,158		4,627		4,277
Cost of services				2,210		1,758		1,536
Gross profit	1,411	1,703	1,553	1,531	1,822	1,791	1,640	1,628
Gross margin	14.8%	18.2%	17.5%	17.2%	22.3%	21.9%	22.0%	21.9%
Selling, general and administrative [+]	898	904	788	788	871	871	759	759
General and administrative	898	904	788	788	871	871	759	759
Equity in earnings	41	32	22		17		12
Other operating expenses				-22		-31		-12
EBITDA [+]	847	1,078	1,014	945	1,171	1,118	1,098	1,046
EBITDA growth	-21.4%	6.3%	-13.4%	-15.5%	6.6%	6.9%	2.8%
EBITDA margin	8.9%	11.5%	11.4%	10.6%	14.3%	13.7%	14.8%	14.1%
Depreciation	207	191	180	180	167	167	165	165
EBITA	640	887	834	765	1,004	951	933	881
EBITA margin	6.7%	9.5%	9.4%	8.6%	12.3%	11.6%	12.5%	11.8%
Amortization of intangibles	86	56	47		36		40
EBIT [+]	554	831	787	765	968	951	893	881
EBIT growth	-33.3%	5.6%	-18.7%	-19.6%	8.4%	7.9%	1.2%
EBIT margin	5.8%	8.9%	8.8%	8.6%	11.8%	11.6%	12.0%	11.8%
Non-recurring items [+]			29	29
Asset impairment			29	29
Interest expense	89	114	70	70	58	58	94	94
Interest expense	89	114	70	70	58	58	94	94
Other income (expense), net [+]	157	93	-5	17	61	78	-27	-15
Other	17	6	5	-5	4	-4	1	-1
Pre-tax income	622	810	683	683	971	971	772	772
Income taxes	78	114	134	134	135	135	293	293
Tax rate	12.5%	14.1%	19.6%	19.6%	13.9%	13.9%	38.0%	38.0%
Net income	544	696	549	549	836	836	479	479
Net margin	5.7%	7.4%	6.2%	6.2%	10.2%	10.2%	6.4%	6.4%

Basic EPS [+]	$13.50	$17.14	$13.26	$13.26	$19.09	$19.09	$10.48	$10.48
Growth	-21.3%	29.3%	-30.5%	-30.5%	82.1%	82.1%	-14.4%
Diluted EPS [+]	$13.50	$17.14	$13.26	$13.26	$19.09	$19.09	$10.46	$10.46
Growth	-21.3%	29.3%	-30.5%	-30.5%	82.5%	82.5%	-13.8%

Dividends per share [+]	$4.60	$4.23	$3.61	$3,610,000.00	$3.02	$3,020,000.00	$2.52	$2,520,000.00
Growth	8.7%	17.2%	19.5%	19.5%	19.8%	19.8%	20.0%

Shares outstanding (basic) [+]	40	41	41	41	44	44	46	46
Growth	-0.7%	-1.9%	-5.5%	-5.5%	-4.2%	-4.2%	-2.4%
Shares outstanding (diluted) [+]	40	41	41	41	44	44	46	46
Growth	-0.7%	-1.9%	-5.5%	-5.5%	-4.4%	-4.4%	-3.0%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.