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Condensed Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jul. 03, 2015
Aug. 01, 2014
Jul. 03, 2015
Aug. 01, 2014
Revenues $ 1,257 $ 1,306 $ 2,503 $ 2,618
Costs and expenses:        
Cost of revenues 1,113 1,119 2,206 2,260
Selling, general and administrative expenses 51 87 126 171
Goodwill impairment charges   486 0 486
Asset impairment charges 29 24 69 24
Operating income (loss) 64 (410) 102 (323)
Non-operating income (expense):        
Interest expense, net (14) (19) (28) (39)
Other income (expense), net 2 (1) 1 1
Income (loss) from continuing operations before income taxes 52 (430) 75 (361)
Income tax expense (15) (9) (15) (33)
Income (loss) from continuing operations 37 (439) 60 (394)
Discontinued operations:        
Income (loss) from discontinued operations before income taxes 0 2 0 (11)
Income tax (expense) benefit 0 (1) 18 4
Income (loss) from discontinued operations 0 1 18 (7)
Net income (loss) $ 37 $ (438) $ 78 $ (401)
Basic:        
Income (loss) from continuing operations (dollar per share) $ 0.51 $ (5.93) $ 0.82 $ (5.25)
(Loss) income from discontinued operations (dollar per share) 0.00 0.01 0.25 (0.10)
Basic earnings per share (dollar per share) 0.51 (5.92) 1.07 (5.35)
Diluted:        
Income (loss) from continuing operations (dollar per share) 0.50 (5.93) 0.80 (5.25)
(Loss) income from discontinued operations (dollar per share) 0.00 0.01 0.24 (0.10)
Diluted earnings per share (dollar per share) $ 0.50 $ (5.92) $ 1.04 $ (5.35)
Basic weighted average number of shares outstanding (shares) 73 74 73 75
Diluted weighted average number of shares outstanding (shares) 74 74 75 75
Cash dividends declared per share (dollars per share) $ 0.32 $ 0.32 $ 0.64 $ 0.64
Leidos, Inc.        
Revenues $ 1,257 $ 1,306 $ 2,503 $ 2,618
Costs and expenses:        
Cost of revenues 1,113 1,119 2,206 2,260
Selling, general and administrative expenses 51 87 126 171
Goodwill impairment charges 0 486 0 486
Asset impairment charges 29 24 69 24
Operating income (loss) 64 (410) 102 (323)
Non-operating income (expense):        
Interest expense, net (10) (16) (21) (34)
Other income (expense), net 2 (1) 1 1
Income (loss) from continuing operations before income taxes 56 (427) 82 (356)
Income tax expense (17) (10) (18) (35)
Income (loss) from continuing operations 39 (437) 64 (391)
Discontinued operations:        
Income (loss) from discontinued operations before income taxes 0 2 0 (11)
Income tax (expense) benefit 0 (1) 18 4
Income (loss) from discontinued operations 0 1 18 (7)
Net income (loss) $ 39 $ (436) $ 82 $ (398)