Retirement Plans	11 Months Ended
Retirement Plans	Jan. 01, 2016
Retirement Plans	Retirement Plans: Defined Contribution Plans The Company sponsors several defined contribution plans, including the Leidos, Inc. Retirement Plan ("the Retirement Plan") which is both a 401(k) plan and an employee stock ownership plan, in which most employees are eligible to participate. These plans allow eligible participants to contribute a portion of their income through payroll deductions and the Company may also make discretionary contributions. Company contributions expensed were $56 million, $62 million and $81 million for the 11-month period ended January 1, 2016, fiscal 2015 and fiscal 2014, respectively. At the end of fiscal 2014, the Company elected to decrease its discretionary employer match contribution percentage and provide for an additional annual Company contribution to be given to all eligible employees, regardless of whether the employee participates in the 401(k) plan, payable at the end of the calendar year to eligible employees employed on the last day of the calendar year with certain exceptions. Deferred Compensation Plans The Company maintains two deferred compensation plans, the Keystaff Deferral Plan ("KDP") and the Key Executive Stock Deferral Plan ("KESDP"), for the benefit of certain management or highly compensated employees or members of the Board of Directors. The deferred compensation plans allow eligible participants to elect to defer all or a portion of certain bonuses, including equity awards. Directors may also elect to defer their director fees and retainers. The Company makes no contributions to the KDP but maintains participant accounts for deferred amounts and interest earned. Interest is accrued based on the Moody’s Seasoned Corporate Bond Rate. The Company maintains a rabbi trust for the purpose of funding benefit payments to the KDP participants. Subsequent to year-end, participants may allocate deferred amounts into a variety of designated investment options, with interest being accrued based on the elected investment option performance. Under the KESDP, eligible participants may also elect to defer in share units all or a portion of certain stock awards granted under the 2006 Equity Incentive Plan (see Note 13). The Company makes no contributions to the accounts of KESDP participants. Benefits from the KESDP are payable in shares of Leidos' common stock that may be held in a trust for the purpose of funding benefit payments to KESDP participants. Deferred balances in the KDP and KESDP plans are generally be paid upon retirement or termination. The Company sponsors a 401(k) Excess Deferral Plan ("Excess Plan") for the benefit of certain management or highly compensated employees that allows participants to elect to defer up to 20% of their eligible salary once the participant has met the IRS contribution limit imposed on the Leidos, Inc. Retirement Plan. The Company makes matching contributions to participants who have received a reduced Company contribution in the Leidos, Inc. Retirement Plan due to the participant’s deferral of salary into the Excess Plan which are included in the contributions expensed amount for defined contributions plans in the above paragraph. Defined Benefit Plans The Company sponsors a defined benefit pension plan in the United Kingdom for plan participants that primarily performed services on an expired customer contract. While benefits are no longer accruing under the plan, the Company has continuing defined benefit pension obligations with respect to certain plan participants. In fiscal 2012, the Company sold certain components of its business, including the component of its business that contained this pension and employed the pension plan participants. Pursuant to the definitive sale agreement, the Company retained the assets and obligations of this defined benefit pension plan. As a result of retaining the pension obligation, the remaining immaterial components of ongoing pension expense, primarily interest costs and assumed return on plan assets subsequent to the sale, are recorded in continuing operations. The projected benefit obligation as of January 1, 2016, and January 30, 2015, was $106 million and $121 million, respectively. The change of $15 million in the projected benefit obligation balance was primarily due to a gain of $13 million that resulted from changes in the financial assumptions which were used to determine the liability balance, mainly attributable to a higher discount rate. The fair value of plan assets as of January 1, 2016, and January 30, 2015, was $108 million and $113 million, respectively. The plan funding status was overfunded by $2 million and underfunded by $8 million as of January 1, 2016, and January 30, 2015, respectively. The plan’s assets consist of investments in pooled funds that contain investments with values based on quoted market prices, but for which the pools are not valued on a daily quoted market basis (Level 2 inputs). Other The Company also sponsors a defined benefit pension plan for employees working on one U.S. Government contract. As part of the contractual agreement, the customer reimburses the Company for contributions made to the plan that are allowable under government contract cost accounting requirements. If the Company were to cease being the contractor as a result of a recompetition process, this defined benefit pension plan and related plan assets and liabilities would transfer to the new contractor. If the contract expires or is terminated with no transfer of the plan to a successor contractor, any amount by which plan liabilities exceed plan assets, as of that date, will be reimbursed by the U.S. Government customer. Since the Company is not responsible for the current or future funded status of this plan, no assets or liabilities arising from its funded status are recorded in the Company’s consolidated financial statements and no amounts associated with this plan are included in the defined benefit plan disclosures above. In fiscal 2015, the majority of the participants were transferred from the defined benefit pension plan into a new defined contribution plan for which there is a matching Company contribution. These participants can no longer make contributions into the defined benefit pension plan or earn future pension benefits. The remaining participants will continue in the defined benefit pension plan and will continue to earn future pension benefits; however, any Company matching contributions previously made into the plan have been discontinued.
Leidos, Inc.
Retirement Plans	Retirement Plans: Defined Contribution Plans The Company sponsors several defined contribution plans, including the Leidos, Inc. Retirement Plan ("the Retirement Plan") which is both a 401(k) plan and an employee stock ownership plan, in which most employees are eligible to participate. These plans allow eligible participants to contribute a portion of their income through payroll deductions and the Company may also make discretionary contributions. Company contributions expensed were $56 million, $62 million and $81 million for the 11-month period ended January 1, 2016, fiscal 2015 and fiscal 2014, respectively. At the end of fiscal 2014, the Company elected to decrease its discretionary employer match contribution percentage and provide for an additional annual Company contribution to be given to all eligible employees, regardless of whether the employee participates in the 401(k) plan, payable at the end of the calendar year to eligible employees employed on the last day of the calendar year with certain exceptions. Deferred Compensation Plans The Company maintains two deferred compensation plans, the Keystaff Deferral Plan ("KDP") and the Key Executive Stock Deferral Plan ("KESDP"), for the benefit of certain management or highly compensated employees or members of the Board of Directors. The deferred compensation plans allow eligible participants to elect to defer all or a portion of certain bonuses, including equity awards. Directors may also elect to defer their director fees and retainers. The Company makes no contributions to the KDP but maintains participant accounts for deferred amounts and interest earned. Interest is accrued based on the Moody’s Seasoned Corporate Bond Rate. The Company maintains a rabbi trust for the purpose of funding benefit payments to the KDP participants. Subsequent to year-end, participants may allocate deferred amounts into a variety of designated investment options, with interest being accrued based on the elected investment option performance. Under the KESDP, eligible participants may also elect to defer in share units all or a portion of certain stock awards granted under the 2006 Equity Incentive Plan (see Note 13). The Company makes no contributions to the accounts of KESDP participants. Benefits from the KESDP are payable in shares of Leidos' common stock that may be held in a trust for the purpose of funding benefit payments to KESDP participants. Deferred balances in the KDP and KESDP plans are generally be paid upon retirement or termination. The Company sponsors a 401(k) Excess Deferral Plan ("Excess Plan") for the benefit of certain management or highly compensated employees that allows participants to elect to defer up to 20% of their eligible salary once the participant has met the IRS contribution limit imposed on the Leidos, Inc. Retirement Plan. The Company makes matching contributions to participants who have received a reduced Company contribution in the Leidos, Inc. Retirement Plan due to the participant’s deferral of salary into the Excess Plan which are included in the contributions expensed amount for defined contributions plans in the above paragraph. Defined Benefit Plans The Company sponsors a defined benefit pension plan in the United Kingdom for plan participants that primarily performed services on an expired customer contract. While benefits are no longer accruing under the plan, the Company has continuing defined benefit pension obligations with respect to certain plan participants. In fiscal 2012, the Company sold certain components of its business, including the component of its business that contained this pension and employed the pension plan participants. Pursuant to the definitive sale agreement, the Company retained the assets and obligations of this defined benefit pension plan. As a result of retaining the pension obligation, the remaining immaterial components of ongoing pension expense, primarily interest costs and assumed return on plan assets subsequent to the sale, are recorded in continuing operations. The projected benefit obligation as of January 1, 2016, and January 30, 2015, was $106 million and $121 million, respectively. The change of $15 million in the projected benefit obligation balance was primarily due to a gain of $13 million that resulted from changes in the financial assumptions which were used to determine the liability balance, mainly attributable to a higher discount rate. The fair value of plan assets as of January 1, 2016, and January 30, 2015, was $108 million and $113 million, respectively. The plan funding status was overfunded by $2 million and underfunded by $8 million as of January 1, 2016, and January 30, 2015, respectively. The plan’s assets consist of investments in pooled funds that contain investments with values based on quoted market prices, but for which the pools are not valued on a daily quoted market basis (Level 2 inputs). Other The Company also sponsors a defined benefit pension plan for employees working on one U.S. Government contract. As part of the contractual agreement, the customer reimburses the Company for contributions made to the plan that are allowable under government contract cost accounting requirements. If the Company were to cease being the contractor as a result of a recompetition process, this defined benefit pension plan and related plan assets and liabilities would transfer to the new contractor. If the contract expires or is terminated with no transfer of the plan to a successor contractor, any amount by which plan liabilities exceed plan assets, as of that date, will be reimbursed by the U.S. Government customer. Since the Company is not responsible for the current or future funded status of this plan, no assets or liabilities arising from its funded status are recorded in the Company’s consolidated financial statements and no amounts associated with this plan are included in the defined benefit plan disclosures above. In fiscal 2015, the majority of the participants were transferred from the defined benefit pension plan into a new defined contribution plan for which there is a matching Company contribution. These participants can no longer make contributions into the defined benefit pension plan or earn future pension benefits. The remaining participants will continue in the defined benefit pension plan and will continue to earn future pension benefits; however, any Company matching contributions previously made into the plan have been discontinued.