|
|
Quarter Ended September 30, 2016 | ||||||||||||||||||
|
|
As reported |
|
Acquisition and integration costs |
|
Amortization of intangibles |
|
Restructuring expenses |
|
Non-GAAP results | ||||||||||
Income from continuing operations, before income taxes |
|
$ |
75 |
|
|
$ |
(44) |
|
|
$ |
(27) |
|
|
$ |
(5) |
|
|
$ |
151 |
|
Depreciation expense |
|
10 |
|
|
— |
|
|
— |
|
|
— |
|
|
10 |
| |||||
Amortization expense |
|
27 |
|
|
— |
|
|
27 |
|
|
— |
|
|
— |
| |||||
Interest expense, net |
|
25 |
|
|
— |
|
|
— |
|
|
— |
|
|
25 |
| |||||
EBITDA |
|
$ |
137 |
|
|
$ |
(44) |
|
|
$ |
— |
|
|
$ |
(5) |
|
|
$ |
186 |
|
LEIDOS HOLDINGS, INC. UNAUDITED NON-GAAP FINANCIAL MEASURES (in millions, except per share amounts) | ||||||||||||||||||||
| ||||||||||||||||||||
|
|
Quarter Ended October 2, 2015 | ||||||||||||||||||
|
|
As reported |
|
Asset impairment charges |
|
Amortization of intangibles1 |
|
Restructuring expenses |
|
Non-GAAP results | ||||||||||
Revenue |
|
$ |
1,302 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
1,302 |
|
Cost of revenues |
|
1,138 |
|
|
— |
|
|
— |
|
|
— |
|
|
1,138 |
| |||||
Selling, general and administrative expenses 2 |
|
66 |
|
|
— |
|
|
2 |
|
|
1 |
|
|
63 |
| |||||
Asset impairment charges |
|
4 |
|
|
4 |
|
|
— |
|
|
— |
|
|
— |
| |||||
Operating income |
|
94 |
|
|
(4) |
|
|
(2) |
|
|
(1) |
|
|
101 |
| |||||
Non-operating expense, net |
|
(14) |
|
|
— |
|
|
— |
|
|
— |
|
|
(14) |
| |||||
Income from continuing operations, before
|
|
80 |
|
|
(4) |
|
|
(2) |
|
|
(1) |
|
|
87 |
| |||||
Income tax (expense) benefit 3 |
|
(31) |
|
|
2 |
|
|
1 |
|
|
— |
|
|
(34) |
| |||||
Income from continuing operations |
|
$ |
49 |
|
|
$ |
(2) |
|
|
$ |
(1) |
|
|
$ |
(1) |
|
|
$ |
53 |
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Diluted EPS from continuing operations 4 |
|
$ |
0.67 |
|
|
$ |
(0.03) |
|
|
$ |
(0.01) |
|
|
$ |
(0.01) |
|
|
$ |
0.73 |
|
Diluted shares |
|
73 |
|
|
73 |
|
|
73 |
|
|
73 |
|
|
73 |
| |||||
| ||||||||||||||||||||
(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 $13 million and restructuring expense of $1 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
|