Attached files
| file | filename |
|---|---|
| EX-4.2 - FORM OF SUPPLEMENTAL INDENTURE - HUNTINGTON INGALLS INDUSTRIES, INC. | hii-ex42201510xk.htm |
| EX-31.1 - SECTION 302 CEO CERTIFICATION - HUNTINGTON INGALLS INDUSTRIES, INC. | hii-ex311201510xk.htm |
| EX-32.1 - SECTION 906 CEO CERTIFICATION - HUNTINGTON INGALLS INDUSTRIES, INC. | hii-ex321201510xk.htm |
| 10-K - FORM 10-K - HUNTINGTON INGALLS INDUSTRIES, INC. | hii201510-k.htm |
| EX-23.1 - CONSENT OF DELOITTE & TOUCHE LLP - HUNTINGTON INGALLS INDUSTRIES, INC. | hii-ex231201510xk.htm |
| EX-21.1 - SUBSIDIARIES OF HUNTINGTON INGALLS INDUSTRIES, INC. - HUNTINGTON INGALLS INDUSTRIES, INC. | hii-ex211201510xk.htm |
| EX-31.2 - SECTION 302 CFO CERTIFICATION - HUNTINGTON INGALLS INDUSTRIES, INC. | hii-ex312201510xk.htm |
| EX-32.2 - SECTION 906 CFO CERTIFICATION - HUNTINGTON INGALLS INDUSTRIES, INC. | hii-ex322201510xk.htm |
Exhibit 12.1
RATIO OF EARNINGS TO FIXED CHARGES
Year Ended December 31 | ||||||||||||||||||||
($ in millions) | 2015(1) | 2014(2) | 2013 | 2012 | 2011(3) | |||||||||||||||
Earnings: | ||||||||||||||||||||
Earnings from continuing operations before income taxes | $ | 632 | $ | 507 | $ | 394 | $ | 241 | $ | (4 | ) | |||||||||
Amortization of Capitalized Interest | 2 | 1 | 2 | 2 | 3 | |||||||||||||||
Interest Capitalized | (2 | ) | (2 | ) | — | (2 | ) | (2 | ) | |||||||||||
Net adjustment for earnings from affiliates | — | (2 | ) | 2 | 2 | — | ||||||||||||||
Fixed Charges: | ||||||||||||||||||||
Interest expensed and capitalized, including amortization of debt issuance | 139 | 151 | 118 | 119 | 106 | |||||||||||||||
Portion of rental expenses on operating leases deemed to be representative of the interest factor (4) | 21 | 18 | 15 | 15 | 15 | |||||||||||||||
Total Earnings | $ | 792 | $ | 673 | $ | 531 | $ | 377 | $ | 118 | ||||||||||
Fixed Charges: | $ | 160 | $ | 169 | $ | 133 | $ | 134 | $ | 121 | ||||||||||
Ratio of earnings to fixed charges | 5.0 | 4.0 | 4.0 | 2.8 | 1.0 | |||||||||||||||
(1) For the year ended December 31, 2015, the Company recorded non-cash goodwill impairment charges of $75 million and a non-cash intangible asset impairment charge of $27 million, as well as $44 million of interest expense related to the early extinguishment of debt.
(2) 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.
(3) For the year ended December 31, 2011, the Company recorded a non-cash goodwill impairment charge of $290 million.
(4) The proportion of rental expense deemed to be representative of the interest factor is one third.