LEIDOS HOLDINGS, INC. UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS (in millions) | ||||||||||||||||
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Three Months Ended |
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Twelve Months Ended | ||||||||||||
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December 30,
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January 1,
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December 30,
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January 1,
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Cash flows from operations: |
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Net income |
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$ |
60 |
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$ |
127 |
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$ |
246 |
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$ |
254 |
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Income from discontinued operations |
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— |
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— |
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— |
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(18) |
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Adjustments to reconcile net income to net cash
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Depreciation and amortization |
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68 |
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9 |
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122 |
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44 |
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Stock-based compensation |
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10 |
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8 |
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35 |
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31 |
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Asset impairment charges |
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4 |
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— |
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4 |
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73 |
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Gain on a real estate sale |
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— |
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(82) |
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— |
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(82) |
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Other |
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2 |
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— |
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— |
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8 |
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Change in assets and liabilities, net of effects of
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Receivables |
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(17) |
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(70) |
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123 |
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75 |
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Inventory, prepaid expenses and other current
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23 |
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8 |
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(101) |
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(14) |
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Accounts payable and accrued liabilities |
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(61) |
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30 |
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(25) |
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101 |
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Accrued payroll and employee benefits |
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28 |
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— |
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26 |
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(26) |
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Deferred income taxes and income taxes
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55 |
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32 |
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36 |
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12 |
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Other long-term assets/ liabilities |
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(10) |
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(30) |
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(20) |
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(48) |
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Total cash flows provided by operating activities of
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162 |
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32 |
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446 |
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410 |
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Cash flows from investing activities: |
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Payments for property, plant and equipment |
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(9) |
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(12) |
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(29) |
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(27) |
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Acquisitions of businesses |
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— |
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(2) |
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25 |
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(2) |
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Payments on accrued purchase price related to prior
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— |
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— |
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— |
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(13) |
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Net proceeds from sale of assets |
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— |
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70 |
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3 |
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79 |
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Proceeds from disposition of business |
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— |
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— |
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23 |
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27 |
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Proceeds from collections on promissory note |
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— |
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— |
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4 |
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— |
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Other |
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1 |
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— |
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— |
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— |
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Total cash flows (used in) provided by investing activities
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(8) |
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56 |
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26 |
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64 |
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Cash flows from financing activities: |
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Payments of long-term debt |
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(175) |
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(13) |
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(277) |
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(62) |
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Proceeds from debt issuance |
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— |
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— |
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690 |
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— |
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Payments for debt issuance costs |
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— |
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— |
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(30) |
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— |
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Payments on real estate financing transaction |
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— |
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(8) |
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— |
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(8) |
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Proceeds from issuances of stock |
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— |
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2 |
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25 |
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6 |
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Repurchases of stock and other |
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(4) |
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(4) |
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(24) |
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(120) |
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Special cash dividend payment |
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— |
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— |
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(993) |
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— |
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Dividend payments |
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(48) |
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(46) |
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(142) |
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(117) |
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Other |
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— |
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2 |
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— |
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5 |
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Total cash flows used in financing activities of continuing
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(227) |
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(67) |
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(751) |
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(296) |
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(Decrease) increase in cash and cash equivalents from
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(73) |
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21 |
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(279) |
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178 |
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Cash flows from discontinued operations: |
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Cash provided by operating activities of discontinued
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— |
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— |
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— |
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13 |
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Cash (used in) provided by investing activities of
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— |
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— |
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(1) |
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6 |
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(Decrease) increase in cash and cash equivalents from
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— |
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— |
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(1) |
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19 |
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Total (decrease) increase in cash and cash equivalents |
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(73) |
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21 |
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(280) |
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197 |
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Cash and cash equivalents at beginning of year |
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449 |
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635 |
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656 |
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459 |
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Cash and cash equivalents at end of year |
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$ |
376 |
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$ |
656 |
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$ |
376 |
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$ |
656 |
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