DISCONTINUED OPERATIONS AND DIVESTITURES (Tables)

12 Months Ended

Jun. 28, 2019

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Summarized Financial Information of Discontinued Operations

The following table presents the key financial results of CapRock included in “Discontinued operations, net of income taxes” included in our Consolidated Statement of Income:

	2019			2018			2017
	(In millions)
Revenue from product sales and services	$	—		$	—		$	144
Cost of product sales and services	—			—			(108		)
Engineering, selling and administrative expenses	—			—			(23		)
Non-operating income (loss)	(3		)	(4		)	4
Income (loss) before income taxes	(3		)	(4		)	17
Gain on sale of discontinued operations	—			—			14
Income tax benefit	1			—			41
Discontinued operations, net of income taxes	$	(2	)	$	(4	)	$	72

The following table presents the key financial results of IT Services included in “Discontinued operations, net of income taxes” in our Consolidated Statement of Income:

	2019			2018			2017
	(In millions)
Revenue from product sales and services	$	—		$	—		$	895
Cost of product sales and services	—			—			(777		)
Engineering, selling and administrative expenses	—			—			(68		)
Impairment of goodwill and other assets	—			—			(240		)
Non-operating loss	(1		)	(4		)	(9		)
Loss before income taxes	(1		)	(4		)	(199		)
Loss on sale of discontinued operations, net	—			—			(28		)
Income tax benefit	—			5			69
Discontinued operations, net of income taxes	$	(1	)	$	1		$	(158	)

The major components of discontinued operations in our Consolidated Statement of Income included the following:

	2019			2018			2017
	(In millions)
Revenue from product sales and services	$	—		$	—		$	1,039
Cost of product sales and services	—			—			(885		)
Engineering, selling and administrative expenses	—			—			(91		)
Impairment of goodwill and other assets	—			—			(240		)
Non-operating loss, net(1)	(5		)	(8		)	(7		)
Loss before income taxes	(5		)	(8		)	(184		)
Loss on sale of discontinued operations, net(2)	—			—			(11		)
Income tax benefit	1			5			110
Discontinued operations, net of income taxes	$	(4	)	$	(3	)	$	(85	)

_______________

(1) “Non-operating loss, net” included a loss of $2 million in fiscal 2017 related to our former broadcast communications business (“Broadcast Communications”), which was divested in fiscal 2013.

(2)

“Loss on sale of discontinued operations, net” in fiscal 2017 included a $3 million decrease to the loss on the sale of Broadcast Communications.

Depreciation and amortization, capital expenditures and significant non-cash items of discontinued operations included the following:

	2017
	(In millions)
Depreciation and amortization	$	39
Capital expenditures	4
Significant non-cash items:
Impairment of goodwill and other assets	(240		)
Loss on sale of discontinued operations, net	(11		)

Summarized financial information for the Harris Night Vision business is as follows:

	2019		2018		2017
	(In millions)
Revenue from product sales and services	$	166	$	148	$	121
Income before income taxes	27		23		11
Receivables	$	18
Inventories	52
Property, plant and equipment	29
Goodwill	30
Other intangible assets	4
Assets of disposal group held for sale	$	133
Accounts payable	$	13
Contract liabilities	1
Compensation and benefits	3
Other accrued items	3
Defined benefit plans	16
Liabilities of disposal group held for sale	$	36