v3.25.0.1
Revenue (Tables)
 12 Months Ended
Dec. 31, 2024
Disaggregation of Revenue [Abstract]  
Disaggregation of Revenue [Table Text Block]
The following tables present revenues on a disaggregated basis:
Year Ended December 31, 2024
($ in millions)IngallsNewport NewsMission TechnologiesIntersegment EliminationsTotal
Revenue Type
Product sales$2,424 $4,921 $119 $— $7,464 
Service revenues335 1,045 2,691 — 4,071 
Intersegment8 3 127 (138)— 
Sales and service revenues$2,767 $5,969 $2,937 $(138)$11,535 
Customer Type
Federal$2,759 $5,964 $2,804 $— $11,527 
Commercial— 2 5 — 7 
State and local government agencies— — 1 — 1 
Intersegment8 3 127 (138)— 
Sales and service revenues$2,767 $5,969 $2,937 $(138)$11,535 
Contract Type
Firm fixed-price$7 $7 $343 $— $357 
Fixed-price incentive2,417 3,127 9 — 5,553 
Cost-type335 2,832 2,281 — 5,448 
Time and materials— — 177 — 177 
Intersegment8 3 127 (138)— 
Sales and service revenues$2,767 $5,969 $2,937 $(138)$11,535 

Year Ended December 31, 2023
($ in millions)IngallsNewport NewsMission TechnologiesIntersegment EliminationsTotal
Revenue Type
Product sales$2,495 $5,053 $116 $— $7,664 
Service revenues248 1,077 2,465 — 3,790 
Intersegment9 3 118 (130)— 
Sales and service revenues$2,752 $6,133 $2,699 $(130)$11,454 
Customer Type
Federal$2,743 $6,129 $2,558 $— $11,430 
Commercial— 1 22 — 23 
State and local government agencies— — 1 — 1 
Intersegment9 3 118 (130)— 
Sales and service revenues$2,752 $6,133 $2,699 $(130)$11,454 
Contract Type
Firm fixed-price$2 $4 $322 $— $328 
Fixed-price incentive2,497 3,364 6 — 5,867 
Cost-type244 2,762 2,039 — 5,045 
Time and materials— — 214 — 214 
Intersegment9 3 118 (130)— 
Sales and service revenues$2,752 $6,133 $2,699 $(130)$11,454 
Year Ended December 31, 2022
($ in millions)IngallsNewport NewsMission TechnologiesIntersegment EliminationsTotal
Revenue Type
Product sales$2,372 $4,821 $90 $— $7,283 
Service revenues186 1,026 2,181 — 3,393 
Intersegment12 5 116 (133)— 
Sales and service revenues$2,570 $5,852 $2,387 $(133)$10,676 
Customer Type
Federal$2,558 $5,846 $2,221 $— $10,625 
Commercial— 1 49 — 50 
State and local government agencies— — 1 — 1 
Intersegment12 5 116 (133)— 
Sales and service revenues$2,570 $5,852 $2,387 $(133)$10,676 
Contract Type
Firm fixed-price$8 $14 $277 $— $299 
Fixed-price incentive2,369 3,009 — — 5,378 
Cost-type181 2,824 1,725 — 4,730 
Time and materials— — 269 — 269 
Intersegment12 5 116 (133)— 
Sales and service revenues$2,570 $5,852 $2,387 $(133)$10,676 

Year Ended December 31
($ in millions)202420232022
Major Programs
Amphibious assault ships$1,426 $1,511 $1,415 
Surface combatants and coast guard cutters1,330 1,225 1,138 
Other11 16 17 
Total Ingalls2,767 2,752 2,570 
Aircraft carriers3,239 3,374 3,203 
Submarines2,206 2,161 2,002 
Other524 598 647 
Total Newport News5,969 6,133 5,852 
C5ISR, CEW&S, LVC2,458 2,232 1,950 
Other479 467 437 
Total Mission Technologies2,937 2,699 2,387 
Intersegment eliminations(138)(130)(133)
Sales and service revenues$11,535 $11,454 $10,676 
Schedule of Change in Accounting Estimate [Table Text Block]
The following table presents the effect of net cumulative catch-up revenue adjustments on operating income and diluted earnings per share:
Year Ended December 31
($ in millions, except per share amounts)202420232022
Effect on operating income$(126)$118 $113 
Effect on diluted earnings per share$(2.51)$2.33 $2.22 
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]
Contract assets include retention amounts, substantially all of which were under U.S. Government contracts, and were comprised of the following:
December 31
($ in millions)20242023
Due from U.S. Government$1,638 $1,471 
Due from other customers45 66 
Total contract assets$1,683 $1,537 

The Company reports contract balances in a net contract asset or contract liability position on a contract-by-contract basis at the end of each reporting period. Net contract assets were comprised as follows:
December 31
($ in millions)20242023
Contract assets$1,683 $1,537 
Contract liabilities774 1,063 
Net contract assets$909 $474