Attached files
| file | filename |
|---|---|
| EXCEL - IDEA: XBRL DOCUMENT - HUNTINGTON INGALLS INDUSTRIES, INC. | Financial_Report.xls |
| EX-31.1 - SECTION 302 CEO CERTIFICATION - HUNTINGTON INGALLS INDUSTRIES, INC. | hii-ex311q12015.htm |
| EX-31.2 - SECTION 302 CFO CERTIFICATION - HUNTINGTON INGALLS INDUSTRIES, INC. | hii-ex312q12015.htm |
| EX-32.2 - SECTION 906 CFO CERTIFICATION - HUNTINGTON INGALLS INDUSTRIES, INC. | hii-ex322q12015.htm |
| EX-32.1 - SECTION 906 CEO CERTIFICATION - HUNTINGTON INGALLS INDUSTRIES, INC. | hii-ex321q12015.htm |
| 10-Q - FORM 10-Q - HUNTINGTON INGALLS INDUSTRIES, INC. | hii2015q110-q331.htm |
Exhibit 12.1
RATIO OF EARNINGS TO FIXED CHARGES
Three Months Ended March 31 | Year Ended December 31 | |||||||||||||||||||||||
($ in millions) | 2015 | 2014(1) | 2013 | 2012 | 2011(2) | 2010 | ||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Earnings from continuing operations before income taxes | $ | 133 | $ | 507 | $ | 394 | $ | 241 | $ | (4 | ) | $ | 199 | |||||||||||
Amortization of Capitalized Interest | — | 1 | 2 | 2 | 3 | 4 | ||||||||||||||||||
Interest Capitalized | — | (2 | ) | — | (2 | ) | (2 | ) | (3 | ) | ||||||||||||||
Net adjustment for earnings from affiliates | 1 | (2 | ) | 2 | 2 | — | — | |||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest expensed and capitalized, including amortization of debt issuance | 23 | 151 | 118 | 119 | 106 | 43 | ||||||||||||||||||
Portion of rental expenses on operating leases deemed to be representative of the interest factor (3) | 4 | 18 | 15 | 15 | 15 | 15 | ||||||||||||||||||
Total Earnings | $ | 161 | $ | 673 | $ | 531 | $ | 377 | $ | 118 | $ | 258 | ||||||||||||
Fixed Charges: | $ | 27 | $ | 169 | $ | 133 | $ | 134 | $ | 121 | $ | 58 | ||||||||||||
Ratio of earnings to fixed charges | 6.0 | 4.0 | 4.0 | 2.8 | 1.0 | 4.4 | ||||||||||||||||||
(1) For the year ended December 31, 2014, the Company recorded a non-cash goodwill impairment charge of $47 million and $37 million of interest expense related to the early extinguishment of debt.
(2) For the year ended December 31, 2011, the company recorded a non-cash goodwill impairment charge of $290 million.
(3) The proportion of rental expense deemed to be representative of the interest factor is one third.