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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jul. 03, 2020
Jun. 28, 2019
Jul. 03, 2020
Jun. 28, 2019
Income Statement [Abstract]        
Revenues $ 2,914 $ 2,728 $ 5,803 $ 5,305
Cost of revenues 2,531 2,348 5,025 4,569
Selling, general and administrative expenses 195 175 383 341
Bad debt expense and recoveries (81) 0 (72) 0
Acquisition, integration and restructuring costs 16 1 28 3
Asset impairment charges 11 0 11 0
Equity earnings of non-consolidated subsidiaries (7) (6) (13) (10)
Operating income 249 210 441 402
Non-operating (expense) income:        
Interest expense, net (41) (33) (89) (71)
Other (expense) income, net (16) 2 (30) 94
Income before income taxes 192 179 322 425
Income tax expense (38) (41) (53) (98)
Net income 154 138 269 327
Less: net income attributable to non-controlling interest 1 2 1 2
Net income attributable to Leidos common stockholders $ 153 $ 136 $ 268 $ 325
Earnings per share:        
Basic (dollars per share) $ 1.08 $ 0.94 $ 1.89 $ 2.26
Diluted (dollars per share) $ 1.06 $ 0.93 $ 1.86 $ 2.23