Acquisitions Acquisitions (Tables)

3 Months Ended

Apr. 03, 2020

Business Combinations [Abstract]

Schedule of preliminary fair values of the assets acquired and liabilities assumed

The preliminary fair values of the assets acquired and liabilities assumed at the Acquisition Date were as follows (in millions):

Cash	$	18
Receivables	159
Other current assets	64
Operating lease right-of-use assets	25
Property, plant and equipment	161
Intangible assets	464
Accounts payable and accrued liabilities	(45)
Accrued payroll and employee benefits	(29)
Operating lease liabilities	(20)
Total identifiable net assets acquired	797
Goodwill	863
Preliminary purchase price	$	1,660

Schedule of preliminary fair values of intangible assets acquired and related weighted average amortization periods

The following table summarizes the preliminary fair value of intangible assets acquired at the Acquisition Date and the related weighted average amortization period:

	Weighted average amortization period	Fair value
	(in years)	(in millions)
Program intangibles	10	$	430
Backlog intangibles	1	34
Total	9	$	464

Acquisition expenses incurred

The following expenses were incurred related to the acquisition of Dynetics:

	Three Months Ended
	April 3, 2020
	(in millions)
Acquisition costs	$	8
Integration costs	1
Total acquisition and integration costs	$	9

Acquisition pro forma information

The pro forma information is not intended to reflect the actual results of operations that would have occurred if the acquisition had been completed on December 29, 2018, nor is it intended to be an indication of future operating results.

	Three Months Ended
	April 3, 2020		March 29, 2019
	(in millions, except per share amounts)
Revenues	$	2,952	$	2,722
Net income attributable to Leidos common stockholders	130		158
Earnings per share:
Basic	$	0.92	$	1.09
Diluted	0.90		1.07