|
|
Nine Months Ended September 30, 2016 | ||||||||||||||||||||||
|
|
As reported |
|
Acquisition and integration costs |
|
Amortization of intangibles |
|
Restructuring expenses |
|
Gains (losses) on sale of assets |
|
Non-GAAP results | ||||||||||||
Income from continuing operations,
|
|
$ |
213 |
|
|
$ |
(68) |
|
|
$ |
(30) |
|
|
$ |
(6) |
|
|
$ |
5 |
|
|
$ |
312 |
|
Depreciation expense |
|
24 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
24 |
| ||||||
Amortization expense |
|
30 |
|
|
— |
|
|
30 |
|
|
— |
|
|
— |
|
|
— |
| ||||||
Interest expense, net |
|
49 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
49 |
| ||||||
EBITDA |
|
$ |
316 |
|
|
$ |
(68) |
|
|
$ |
— |
|
|
$ |
(6) |
|
|
$ |
5 |
|
|
$ |
385 |
|
LEIDOS HOLDINGS, INC. UNAUDITED NON-GAAP FINANCIAL MEASURES (in millions, except per share amounts)
| ||||||||||||||||||||
| ||||||||||||||||||||
|
|
Nine Months Ended October 2, 2015 | ||||||||||||||||||
|
|
As reported |
|
Asset impairment charges |
|
Amortization of intangibles1 |
|
Restructuring expenses |
|
Non-GAAP results | ||||||||||
Revenue |
|
$ |
3,805 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
3,805 |
|
Cost of revenues |
|
3,344 |
|
|
— |
|
|
— |
|
|
— |
|
|
3,344 |
| |||||
Selling, general and administrative
|
|
192 |
|
|
— |
|
|
7 |
|
|
3 |
|
|
182 |
| |||||
Asset impairment charges |
|
73 |
|
|
73 |
|
|
— |
|
|
— |
|
|
— |
| |||||
Operating income |
|
196 |
|
|
(73) |
|
|
(7) |
|
|
(3) |
|
|
279 |
| |||||
Non-operating expense, net |
|
(41) |
|
|
— |
|
|
— |
|
|
— |
|
|
(41) |
| |||||
Income from continuing operations,
|
|
155 |
|
|
(73) |
|
|
(7) |
|
|
(3) |
|
|
238 |
| |||||
Income tax (expense) benefit 3 |
|
(46) |
|
|
28 |
|
|
3 |
|
|
1 |
|
|
(78) |
| |||||
Income from continuing operations |
|
109 |
|
|
(45) |
|
|
(4) |
|
|
(2) |
|
|
160 |
| |||||
Income from discontinued operations,
|
|
18 |
|
|
— |
|
|
— |
|
|
— |
|
|
18 |
| |||||
Net income |
|
$ |
127 |
|
|
$ |
(45) |
|
|
$ |
(4) |
|
|
$ |
(2) |
|
|
$ |
178 |
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Diluted EPS from continuing operations 4 |
|
$ |
1.47 |
|
|
$ |
(0.61) |
|
|
$ |
(0.05) |
|
|
$ |
(0.03) |
|
|
$ |
2.16 |
|
Diluted shares |
|
74 |
|
|
74 |
|
|
74 |
|
|
74 |
|
|
74 |
| |||||
| ||||||||||||||||||||
(1) Prior period has been recast to reflect amortization of acquired intangible assets as a non-GAAP adjustment. | ||||||||||||||||||||
(2) Selling, general and administrative expenses includes bad debt expense of $10 million and restructuring expense of $3 million. | ||||||||||||||||||||
(3) Calculation uses an estimated statutory tax rate on non-GAAP tax deductible adjustments. | ||||||||||||||||||||
(4) Earnings per share is computed independently for each of the non-GAAP adjustment presented and therefore may not sum to the total
|