Debt (Tables)

12 Months Ended

Jan. 30, 2015

Debt Disclosure [Abstract]

Schedule of Notes Payable and Long-Term Debt

The Company’s notes payable and long-term debt consisted of the following for the years presented:

	Stated interest rate		Effective interest rate		January 30, 2015		January 31, 2014
	(dollars in millions)
Leidos Holdings, Inc. senior unsecured notes:
$450 million notes issued in fiscal 2011, which mature in December 2020 (1)	4.45	%	4.53	%	$	466	$	449
$300 million notes issued in fiscal 2011, which mature in December 2040	5.95	%	6.03	%	232		300
Leidos, Inc. senior unsecured notes:
$250 million notes issued in fiscal 2003, which mature in July 2032	7.13	%	7.43	%	248		248
$300 million notes issued in fiscal 2004, which mature in July 2033	5.50	%	5.85	%	182		296
Capital leases and other notes payable due on various dates through fiscal 2021	0%-3.7%		Various		38		40
Total notes payable and long-term debt					1,166		1,333
Less current portion					2		2
Total notes payable and long-term debt, net of current portion					$	1,164	$	1,331
Fair value of notes payable and long-term debt					$	1,152	$	1,350

(1) As a result of executing the interest rate swap agreements, the carrying value of $466 million includes a fair value adjustment of $17 million attributable to changes in the benchmark interest rate, the six-month LIBOR rate, from the inception of the interest rate swap agreements to January 30, 2015.

Schedule of Maturities of Notes Payable and Long-Term Debt

Maturities of notes payable and long-term debt are as follows:

Year Ending January 30
	(in millions)
2016	$	3
2017	3
2018	2
2019	2
2020	2
2021 and thereafter	1,159
Total principal payments	1,171
Less unamortized discount	5
	$	1,166