BUSINESS COMBINATIONS (Tables)

12 Months Ended

Jun. 30, 2017

Consideration paid for Exelis acquisition

The following table provides further detail of the fair value of consideration paid related to the Exelis acquisition in fiscal 2015 (dollars in millions):



Date of acquisition	May 29, 2015
Cash consideration paid for Exelis outstanding common stock	$	3,128
Cash consideration paid for Exelis outstanding stock options	125
Cash consideration paid for Exelis outstanding restricted stock units	38
Cash consideration paid for dividends to Exelis shareholders	21
Total cash consideration paid	3,312
Less cash acquired	(130		)
Net cash consideration paid	3,182
Fair value of Harris common stock issued for Exelis common stock	1,527
Total net purchase price paid	$	4,709

Pro forma results (unaudited)

The following summary, prepared on a pro forma basis, presents our unaudited consolidated results of operations for fiscal 2015 as if the acquisition of Exelis had been completed as of the beginning of fiscal 2014, after including any post-acquisition adjustments directly attributable to the acquisition, and after including the impact of adjustments such as amortization of intangible assets, interest expense on related borrowings and new shares issued and, in each case, the related income tax effects. This pro forma presentation is on a continuing operations basis and does not include any impact of transaction synergies. The pro forma results are not necessarily indicative of our results of operations had we owned Exelis for the entire period presented.



	2015

	(In millions)
Revenue from product sales and services — as reported	$	3,885
Revenue from product sales and services — pro forma	$	6,285
Income from continuing operations — as reported	$	287
Income from continuing operations — pro forma	$	384