Leidos Holdings, Inc. Reports Fourth Quarter and Fiscal Year 2017 Results

 

 

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:



Quarter Ended December 29, 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


$

85



$



$

27



$



$

1



$

113



9.3

%

Civil


56





33





2



91



10.7

%

Health


44





9







53



12.0

%

Corporate


(84)



46





12





(26)



NM

Total


$

101



$

46



$

69



$

12



$

3



$

231



9.2

%




Quarter Ended December 30, 2016





Operating
income
(loss)


Asset
impairment
charges


Acquisition
and
integration
costs


Amortization
of intangibles 1


Restructuring
expenses


Non-GAAP
operating
income
(loss)


Non-GAAP
operating
margin

Defense Solutions


$

88



$



$



$

13



$



$

101



8.0

%

Civil


66







22





88



10.2

%

Health


48







19





67



15.1

%

Corporate


(50)



4



22





8



(16)



NM

Total


$

152



$

4



$

22



$

54



$

8



$

240



9.3

%




Year Ended December 29, 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


$

307



$



$

108



$



$

3



$

418



8.4

%

Civil


226





132





11



369



10.8

%

Health


228





41







269



14.9

%

Corporate


(202)



102





37





(63)



NM

Total


$

559



$

102



$

281



$

37



$

14



$

993



9.8

%




Year Ended December 30, 2016





Operating
income
(loss)


Asset
impairment
charges


Acquisition
and
integration
costs


Amortization
of intangibles 1


Restructuring
expenses


Non-GAAP
operating
income
(loss)


Non-GAAP
operating
margin

Defense Solutions


$

312



$



$



$

17



$



$

329



8.6

%

Civil


146







39





185



8.9

%

Health


110







28





138



12.4

%

Corporate


(151)



4



90





14



(43)



NM

Total


$

417



$

4



$

90



$

84



$

14



$

609



8.6

%


NM - Not Meaningful

(1) Amortization was based on the preliminary fair value of the acquired intangibles and was subject to change once purchase accounting was finalized.


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