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Business Segments (Tables)
 3 Months Ended
Sep. 29, 2017
Segment Reporting [Abstract]  
Total Assets and Revenues by Business Segments
Segment revenue, segment operating income and a reconciliation of segment operating income to total income from continuing operations before income taxes are as follows:
 
 
Quarter Ended
 
 
September 29, 2017
 
September 30, 2016
 
 
 
 
 
 
 
(In millions)
Revenue
 
 
 
Communication Systems
$
410

 
$
430

Electronic Systems
540

 
537

Space and Intelligence Systems
466

 
453

Corporate eliminations
(3
)
 
—

 
$
1,413

 
$
1,420

Income From Continuing Operations Before Income Taxes
 
 
 
Segment Operating Income:(1)
 
 
 
Communication Systems
$
118

 
$
118

Electronic Systems
109

 
111

Space and Intelligence Systems
87

 
79

Unallocated corporate expense(2)
(41
)
 
(61
)
Corporate eliminations
(1
)
 
(1
)
Non-operating income
—

 
1

Net interest expense
(41
)
 
(44
)
 
$
231

 
$
203

 
 
 
 
 
(1)
Segment operating income for the quarter ended September 30, 2016 included stranded costs and Financial Accounting Standards (“FAS”) pension income previously reported as part of our former Critical Networks segment but now re-allocated to our remaining three segments.
(2)
Unallocated corporate expense included (i) $17 million of Exelis acquisition-related charges in the quarter ended September 30, 2016 and (ii) $25 million and $27 million of expense in the quarters ended September 29, 2017 and September 30, 2016, respectively, for amortization of identifiable intangible assets acquired as a result of our acquisition of Exelis . Because the acquisition of Exelis benefited the entire Company as opposed to any individual segment, the amortization of identifiable intangible assets acquired in the Exelis acquisition was recorded as unallocated corporate expense.
Total assets by business segment are summarized below:
 
 
September 29, 2017
 
June 30, 2017
 
 
 
 
 
 
 
(In millions)
Total Assets
 
 
 
Communication Systems
$
1,588

 
$
1,534

Electronic Systems
4,123

 
4,094

Space and Intelligence Systems
2,159

 
2,117

Corporate (1)
2,229

 
2,345

 
 
$
10,099

 
$
10,090

 
 
 
 
 
(1) Identifiable intangible assets acquired in connection with our acquisition of Exelis in the fourth quarter of fiscal 2015 were recorded as Corporate assets because they benefit the entire Company as opposed to any individual segment. Exelis identifiable intangible asset balances recorded as Corporate assets were approximately $1.1 billion as of September 29, 2017 and June 30, 2017. Corporate assets also consisted of cash, income taxes receivable, deferred income taxes, deferred compensation plan investments and buildings and equipment.