(Bloomberg) — Rear Admiral Thomas Moore, Navy’s head of aircraft carrier programs, refuses after Senate hearing today to discuss how much potential profit forHuntington Ingalls Industries is at risk if cost overruns for USS John F. Kennedy exceed targets.

• “We don’t get into the details of the specific” numbers, Moore says; share lines — point at which contractor and govt start to absorb pre-arranged shares of overruns — are “business sensitive,” he says
• Kennedy is second vessel in $42.8b, three-aircraft carrier program
• Navy in statement to Senate Armed Services Cmte says contract “includes a steeper share line and a lower ceiling price” than previous fixed-priced carrier contracts
• NOTE: Huntington Ingalls Industries in June received $3.3b fixed-price-incentive type contract that establishes ceiling which if exceeded triggers company payments
• NOTE: Cmte Chairman Sen. John McCain, D-Ariz., says John F. Kennedy is $2.3b over original estimate, 5 years delayed