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LEIDOS HOLDINGS, INC. UNAUDITED NON-GAAP FINANCIAL MEASURES [CONTINUED] (in millions, except per share amounts)
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Six Months Ended July 1, 2016 | ||||||||||||||||||||||
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As reported |
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Acquisition and integration costs |
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Amortization of intangibles |
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Restructuring expenses |
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Loss (gain) on sale of assets and businesses |
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Non-GAAP results | ||||||||||||
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Operating income |
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$ |
164 |
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$ |
24 |
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$ |
3 |
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$ |
1 |
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$ |
— |
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$ |
192 |
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Non-operating expense, net |
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(26) |
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— |
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— |
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— |
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(5) |
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(31) |
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Income from continuing operations, before income taxes |
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138 |
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24 |
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3 |
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1 |
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(5) |
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161 |
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Income tax expense1 |
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(44) |
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(10) |
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(1) |
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— |
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1 |
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(54) |
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Net income |
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$ |
94 |
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$ |
14 |
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$ |
2 |
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$ |
1 |
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$ |
(4) |
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$ |
107 |
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Diluted EPS |
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$ |
1.27 |
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$ |
0.19 |
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$ |
0.03 |
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$ |
0.01 |
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$ |
(0.05) |
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$ |
1.45 |
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Diluted shares |
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74 |
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74 |
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74 |
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74 |
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74 |
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74 |
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(1) Calculation uses an estimated statutory tax rate on non-GAAP tax deductible adjustments. |
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