|
|
|
Six Months Ended July 1, 2016 | ||||||||||||||||||||||
|
|
|
As reported |
|
Acquisition and integration costs |
|
Amortization of intangibles |
|
Restructuring expenses |
|
Loss (gain) on sale of assets and businesses |
|
Non-GAAP results | ||||||||||||
|
Income from continuing operations, before income taxes |
|
$ |
138 |
|
|
$ |
24 |
|
|
$ |
3 |
|
|
$ |
1 |
|
|
$ |
(5) |
|
|
$ |
161 |
|
|
Depreciation expense |
|
14 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
14 |
| ||||||
|
Amortization expense |
|
3 |
|
|
— |
|
|
(3) |
|
|
— |
|
|
— |
|
|
— |
| ||||||
|
Interest expense, net |
|
24 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
24 |
| ||||||
|
EBITDA |
|
$ |
179 |
|
|
$ |
24 |
|
|
$ |
— |
|
|
$ |
1 |
|
|
$ |
(5) |
|
|
$ |
199 |
|
|
EBITDA margin |
|
6.9 |
% |
|
|
|
|
|
|
|
|
|
7.7 |
% | ||||||||||
|
LEIDOS HOLDINGS, INC. UNAUDITED NON-GAAP FINANCIAL MEASURES [CONTINUED] (in millions, except per share amounts)
|
|
| |||||||||||||||||||||||||
|
The following tables present the reconciliation of the non-GAAP operating income by reportable segment and corporate expenses: |
|
| |||||||||||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||||
|
|
|
Quarter Ended June 30, 2017 |
|
| |||||||||||||||||||||||
|
|
|
Operating income (loss) |
|
Acquisition and integration costs |
|
Amortization of intangibles |
|
Restructuring expenses |
|
Amortization of equity method investments |
|
Non-GAAP operating income (loss) |
|
Non-GAAP operating margin | |||||||||||||
|
Defense Solutions |
|
$ |
63 |
|
|
$ |
— |
|
|
$ |
44 |
|
|
$ |
— |
|
|
$ |
2 |
|
|
$ |
109 |
|
|
8.8 |
% |
|
Civil |
|
66 |
|
|
— |
|
|
23 |
|
|
— |
|
|
7 |
|
|
96 |
|
|
11.0 |
% | ||||||
|
Health |
|
74 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
74 |
|
|
16.3 |
% | ||||||
|
Corporate expenses |
|
(37) |
|
|
16 |
|
|
— |
|
|
6 |
|
|
— |
|
|
(15) |
|
|
NM | |||||||
|
Total |
|
$ |
166 |
|
|
$ |
16 |
|
|
$ |
67 |
|
|
$ |
6 |
|
|
$ |
9 |
|
|
$ |
264 |
|
|
10.3 |
% |
