LEIDOS HOLDINGS, INC.
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Three Months Ended |
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Nine Months Ended |
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September 30,
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October 2,
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September 30,
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October 2,
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Revenues |
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$ |
1,868 |
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$ |
1,302 |
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$ |
4,468 |
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$ |
3,805 |
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Cost of revenues |
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1,630 |
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1,138 |
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3,925 |
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3,344 |
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Selling, general and administrative expenses |
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87 |
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53 |
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203 |
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180 |
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Bad debt expense |
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1 |
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13 |
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1 |
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10 |
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Acquisition and integration costs |
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44 |
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— |
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68 |
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— |
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Asset impairment charges |
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— |
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4 |
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— |
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73 |
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Restructuring expenses |
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5 |
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— |
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6 |
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2 |
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Operating income |
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101 |
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94 |
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265 |
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196 |
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Interest income |
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3 |
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1 |
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8 |
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2 |
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Interest expense |
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(28) |
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(15) |
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(57) |
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(44) |
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Other (expense) income, net |
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(1) |
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— |
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(3) |
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1 |
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Income from continuing operations before income taxes |
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75 |
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80 |
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213 |
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155 |
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Income tax benefit (expense) |
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17 |
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(31) |
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(27) |
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(46) |
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Income from continuing operations |
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92 |
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49 |
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186 |
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109 |
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Discontinued operations: |
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Income tax benefit |
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— |
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— |
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— |
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18 |
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Income from discontinued operations, net of taxes |
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— |
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— |
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— |
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18 |
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Net income |
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92 |
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49 |
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186 |
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127 |
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Less: net income attributable to non-controlling interest,
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1 |
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— |
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1 |
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— |
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Net income attributable to Leidos Holdings, Inc. |
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$ |
91 |
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$ |
49 |
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$ |
185 |
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$ |
127 |
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Earnings per share: |
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Basic: |
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Income from continuing operations attributable to
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$ |
0.81 |
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$ |
0.68 |
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$ |
2.18 |
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$ |
1.49 |
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Discontinued operations - net of tax |
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— |
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— |
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— |
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0.25 |
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Net income attributable to Leidos Holdings, Inc.
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$ |
0.81 |
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$ |
0.68 |
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$ |
2.18 |
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$ |
1.74 |
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Diluted: |
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Income from continuing operations attributable to Leidos Holdings, Inc.
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$ |
0.80 |
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$ |
0.67 |
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$ |
2.13 |
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$ |
1.47 |
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Discontinued operations - net of tax |
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— |
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— |
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— |
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0.25 |
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Net income attributable to Leidos Holdings, Inc.
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$ |
0.80 |
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$ |
0.67 |
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$ |
2.13 |
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$ |
1.72 |
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Weighted average number of common shares outstanding: |
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Basic |
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112 |
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72 |
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85 |
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73 |
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Diluted |
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114 |
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73 |
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87 |
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74 |
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Cash dividends declared per share |
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$ |
13.96 |
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$ |
0.32 |
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$ |
14.60 |
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$ |
0.96 |
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