2015 Q2 Form 10-Q Financial Statement
#000133692015000017 Filed on May 12, 2015
Income Statement
Concept | 2015 Q2 | 2015 Q1 | 2014 Q2 |
---|---|---|---|
Revenue | $1.246B | $373.0M | $1.312B |
YoY Change | -5.03% | -71.11% | -17.64% |
Cost Of Revenue | $1.093B | $1.017B | $1.141B |
YoY Change | -4.21% | -8.13% | -17.14% |
Gross Profit | $153.0M | $152.0M | $171.0M |
YoY Change | -10.53% | -17.39% | -20.83% |
Gross Profit Margin | 12.28% | 40.75% | 13.03% |
Selling, General & Admin | $75.00M | $73.00M | $84.00M |
YoY Change | -10.71% | 43.14% | -34.38% |
% of Gross Profit | 49.02% | 48.03% | 49.12% |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $12.00M | $12.00M | $18.00M |
YoY Change | -33.33% | -25.0% | -30.77% |
% of Gross Profit | 7.84% | 7.89% | 10.53% |
Operating Expenses | $75.00M | $73.00M | $84.00M |
YoY Change | -10.71% | -23.96% | -45.45% |
Operating Profit | $38.00M | -$23.00M | $87.00M |
YoY Change | -56.32% | -128.4% | 12.99% |
Interest Expense | -$14.00M | -$17.00M | $20.00M |
YoY Change | -170.0% | -26.09% | 0.0% |
% of Operating Profit | -36.84% | 22.99% | |
Other Income/Expense, Net | -$1.000M | $4.000M | $2.000M |
YoY Change | -150.0% | -136.36% | 100.0% |
Pretax Income | $23.00M | $24.00M | $69.00M |
YoY Change | -66.67% | -48.94% | 13.11% |
Income Tax | $0.00 | -$2.000M | $24.00M |
% Of Pretax Income | 0.0% | -8.33% | 34.78% |
Net Earnings | $41.00M | -$23.00M | $37.00M |
YoY Change | 10.81% | -152.27% | -54.32% |
Net Earnings / Revenue | 3.29% | -6.17% | 2.82% |
Basic Earnings Per Share | $0.32 | $0.36 | $0.48 |
Diluted Earnings Per Share | $0.31 | $0.35 | $0.47 |
COMMON SHARES | |||
Basic Shares Outstanding | 73.00M shares | 74.12M shares | 77.00M shares |
Diluted Shares Outstanding | 75.00M shares | 78.00M shares |
Balance Sheet
Concept | 2015 Q2 | 2015 Q1 | 2014 Q2 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $377.0M | $443.0M | $183.0M |
YoY Change | 106.01% | 3.02% | -67.5% |
Cash & Equivalents | $377.0M | $443.0M | $183.0M |
Short-Term Investments | |||
Other Short-Term Assets | $0.00 | $273.0M | $10.00M |
YoY Change | -100.0% | 6.64% | -97.46% |
Inventory | $297.0M | $70.00M | $280.0M |
Prepaid Expenses | $28.00M | ||
Receivables | $977.0M | $896.0M | $1.098B |
Other Receivables | $0.00 | $102.0M | $0.00 |
Total Short-Term Assets | $1.651B | $1.618B | $1.571B |
YoY Change | 5.09% | -10.46% | -47.96% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $308.0M | $308.0M | $480.0M |
YoY Change | -35.83% | -36.1% | 52.38% |
Goodwill | $1.207B | $1.207B | $1.704B |
YoY Change | -29.17% | -28.71% | -22.37% |
Intangibles | $35.00M | $37.00M | $88.00M |
YoY Change | -60.23% | -60.22% | -49.13% |
Long-Term Investments | |||
YoY Change | |||
Other Assets | $95.00M | $97.00M | $112.0M |
YoY Change | -15.18% | 34.72% | 51.35% |
Total Long-Term Assets | $1.658B | $1.663B | $2.398B |
YoY Change | -30.86% | -29.38% | -13.46% |
TOTAL ASSETS | |||
Total Short-Term Assets | $1.651B | $1.618B | $1.571B |
Total Long-Term Assets | $1.658B | $1.663B | $2.398B |
Total Assets | $3.309B | $3.281B | $3.969B |
YoY Change | -16.63% | -21.17% | -31.45% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $745.0M | $244.0M | $740.0M |
YoY Change | 0.68% | 11.93% | -38.89% |
Accrued Expenses | $237.0M | $327.0M | $253.0M |
YoY Change | -6.32% | -17.22% | -43.53% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | $2.000M | $2.000M | $3.000M |
YoY Change | -33.33% | 0.0% | 200.0% |
Total Short-Term Liabilities | $987.0M | $951.0M | $1.004B |
YoY Change | -1.69% | -5.75% | -50.22% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $1.156B | $1.164B | $1.330B |
YoY Change | -13.08% | -12.55% | 2.54% |
Other Long-Term Liabilities | $166.0M | $168.0M | $230.0M |
YoY Change | -27.83% | -25.99% | 33.72% |
Total Long-Term Liabilities | $1.322B | $1.332B | $1.560B |
YoY Change | -15.26% | -14.51% | 6.19% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $987.0M | $951.0M | $1.004B |
Total Long-Term Liabilities | $1.322B | $1.332B | $1.560B |
Total Liabilities | $2.309B | $2.283B | $2.564B |
YoY Change | -9.95% | -11.06% | -26.45% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$419.0M | -$424.0M | $0.00 |
YoY Change | -1796.0% | -100.0% | |
Common Stock | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $1.000B | $998.0M | $1.405B |
YoY Change | |||
Total Liabilities & Shareholders Equity | $3.309B | $3.281B | $3.969B |
YoY Change | -16.63% | -21.17% | -31.45% |
Cashflow Statement
Concept | 2015 Q2 | 2015 Q1 | 2014 Q2 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $41.00M | -$23.00M | $37.00M |
YoY Change | 10.81% | -152.27% | -54.32% |
Depreciation, Depletion And Amortization | $12.00M | $12.00M | $18.00M |
YoY Change | -33.33% | -25.0% | -30.77% |
Cash From Operating Activities | -$29.00M | $122.0M | -$4.000M |
YoY Change | 625.0% | 15.09% | -96.88% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $3.000M | -$3.000M | $10.00M |
YoY Change | -70.0% | -86.36% | -44.44% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$1.000M | $2.000M | $0.00 |
YoY Change | -71.43% | -100.0% | |
Cash From Investing Activities | $4.000M | -$1.000M | -$10.00M |
YoY Change | -140.0% | -93.33% | -225.0% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | $24.00M | $24.00M | |
YoY Change | 0.0% | -92.98% | |
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -57.00M | -96.00M | -233.0M |
YoY Change | -75.54% | -79.79% | 339.62% |
NET CHANGE | |||
Cash From Operating Activities | -29.00M | 122.0M | -4.000M |
Cash From Investing Activities | 4.000M | -1.000M | -10.00M |
Cash From Financing Activities | -57.00M | -96.00M | -233.0M |
Net Change In Cash | -82.00M | 25.00M | -247.0M |
YoY Change | -66.8% | -106.51% | -3187.5% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$29.00M | $122.0M | -$4.000M |
Capital Expenditures | $3.000M | -$3.000M | $10.00M |
Free Cash Flow | -$32.00M | $125.0M | -$14.00M |
YoY Change | 128.57% | -2.34% | -90.41% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2015Q2 | dei |
Entity Registrant Name
EntityRegistrantName
|
Leidos Holdings, Inc. | |
CY2015Q2 | dei |
Amendment Flag
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|
false | |
CY2015Q2 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--01-02 | |
CY2015Q2 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q1 | |
CY2015Q2 | dei |
Document Fiscal Year Focus
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|
2015 | |
CY2015Q2 | dei |
Document Period End Date
DocumentPeriodEndDate
|
2015-04-03 | |
CY2015Q2 | dei |
Document Type
DocumentType
|
10-Q | |
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Entity Central Index Key
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Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
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Earnings Per Share Basic
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0.56 | |
CY2014Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.47 | |
CY2015Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.55 | |
CY2015Q2 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
237000000 | USD |
CY2015Q1 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
264000000 | USD |
CY2015Q2 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
100000000 | USD |
CY2015Q1 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
98000000 | USD |
CY2015Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
|
4000000 | USD |
CY2015Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
|
7000000 | USD |
CY2015Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
|
2000000 | USD |
CY2015Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
|
4000000 | USD |
CY2015Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
|
6000000 | USD |
CY2015Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
|
8000000 | USD |
CY2015Q2 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
131000000 | USD |
CY2015Q1 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
122000000 | USD |
CY2015Q2 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
31000000 | USD |
CY2015Q1 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
24000000 | USD |
CY2015Q2 | us-gaap |
Gain Loss On Repurchase Of Debt Instrument
GainLossOnRepurchaseOfDebtInstrument
|
1000000 | USD |
CY2015Q2 | us-gaap |
Goodwill
Goodwill
|
1207000000 | USD |
CY2014Q1 | us-gaap |
Goodwill
Goodwill
|
1693000000 | USD |
CY2015Q1 | us-gaap |
Goodwill
Goodwill
|
1207000000 | USD |
CY2014Q2 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
0 | USD |
CY2015 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
486000000 | USD |
CY2015Q2 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
0 | USD |
CY2014Q2 | us-gaap |
Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
|
45000000 | USD |
CY2015Q2 | us-gaap |
Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
|
23000000 | USD |
CY2014Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
69000000 | USD |
CY2015Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
23000000 | USD |
CY2014Q2 | us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
0.58 | |
CY2015Q2 | us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
0.32 | |
CY2014Q2 | us-gaap |
Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
|
0.57 | |
CY2015Q2 | us-gaap |
Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
|
0.31 | |
CY2014Q2 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
|
-8000000 | USD |
CY2015Q2 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
|
18000000 | USD |
CY2014Q2 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
|
-0.10 | |
CY2015Q2 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
|
0.24 | |
CY2014Q2 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
|
-0.10 | |
CY2015Q2 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
|
0.24 | |
CY2014Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
24000000 | USD |
CY2015Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | USD |
CY2014Q2 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
5000000 | USD |
CY2015Q2 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
60000000 | USD |
CY2014Q2 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
22000000 | USD |
CY2015Q2 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
30000000 | USD |
CY2014Q2 | us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
14000000 | USD |
CY2015Q2 | us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
-98000000 | USD |
CY2014Q2 | us-gaap |
Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
|
0 | USD |
CY2015Q2 | us-gaap |
Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
|
-23000000 | USD |
CY2014Q2 | us-gaap |
Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
|
-32000000 | USD |
CY2015Q2 | us-gaap |
Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
|
-59000000 | USD |
CY2014Q2 | us-gaap |
Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
|
-2000000 | USD |
CY2015Q2 | us-gaap |
Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
|
-6000000 | USD |
CY2014Q2 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
36000000 | USD |
CY2015Q2 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
29000000 | USD |
CY2014Q2 | us-gaap |
Increase Decrease In Receivables
IncreaseDecreaseInReceivables
|
48000000 | USD |
CY2015Q2 | us-gaap |
Increase Decrease In Receivables
IncreaseDecreaseInReceivables
|
-17000000 | USD |
CY2014Q2 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
1000000 | shares |
CY2015Q2 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
2000000 | shares |
CY2015Q2 | us-gaap |
Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
|
4000000 | USD |
CY2015Q1 | us-gaap |
Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
|
13000000 | USD |
CY2015Q2 | us-gaap |
Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
|
135000000 | USD |
CY2015Q1 | us-gaap |
Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
|
135000000 | USD |
CY2015Q2 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
35000000 | USD |
CY2015Q1 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
37000000 | USD |
CY2014Q2 | us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
-20000000 | USD |
CY2015Q2 | us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
-14000000 | USD |
CY2015Q2 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
3309000000 | USD |
CY2015Q1 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
3281000000 | USD |
CY2015Q2 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
987000000 | USD |
CY2015Q1 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
951000000 | USD |
CY2015Q2 | us-gaap |
Liabilities Fair Value Adjustment
LiabilitiesFairValueAdjustment
|
15000000 | USD |
CY2015Q2 | us-gaap |
Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
|
3000000 | USD |
CY2015Q1 | us-gaap |
Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
|
10000000 | USD |
CY2015Q2 | us-gaap |
Line Of Credit Facility Covenant Compliance
LineOfCreditFacilityCovenantCompliance
|
For a period of four trailing fiscal quarters, the Company maintains a ratio of consolidated funded debt, including borrowings under this facility, to EBITDA adjusted for other items as defined in the credit facility of not more than 4.0 to 1.0 until no later than January 29, 2016 and 3.75 to 1.0 thereafter, and a ratio of EBITDA adjusted for other items as defined in the credit facility to interest expense of greater than 3.5 to 1.0. | |
CY2015Q2 | us-gaap |
Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
|
500000000 | USD |
CY2014Q4 | us-gaap |
Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
|
750000000 | USD |
CY2014Q4 | us-gaap |
Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
|
500000000 | USD |
CY2015Q2 | us-gaap |
Long Term Debt
LongTermDebt
|
1158000000 | USD |
CY2015Q1 | us-gaap |
Long Term Debt
LongTermDebt
|
1166000000 | USD |
CY2015Q2 | us-gaap |
Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
|
1156000000 | USD |
CY2015Q1 | us-gaap |
Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
|
1164000000 | USD |
CY2015Q2 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
1156000000 | USD |
CY2015Q1 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
1164000000 | USD |
CY2014Q2 | us-gaap |
Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
|
-252000000 | USD |
CY2015Q2 | us-gaap |
Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
|
-101000000 | USD |
CY2014Q2 | us-gaap |
Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
|
5000000 | USD |
CY2015Q1 | us-gaap |
Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
|
20000000 | USD |
CY2015Q2 | us-gaap |
Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
|
19000000 | USD |
CY2014Q2 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
-233000000 | USD |
CY2015Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
-47000000 | USD |
CY2015Q2 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
-57000000 | USD |
CY2014Q2 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-10000000 | USD |
CY2015Q2 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-2000000 | USD |
CY2014Q2 | us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-9000000 | USD |
CY2015Q2 | us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-42000000 | USD |
CY2014Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
37000000 | USD |
CY2015Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-23000000 | USD |
CY2015Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
41000000 | USD |
CY2014Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
87000000 | USD |
CY2015Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
38000000 | USD |
CY2015Q2 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
95000000 | USD |
CY2015Q1 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
97000000 | USD |
CY2014Q2 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
|
0 | USD |
CY2015Q2 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
|
-2000000 | USD |
CY2014Q2 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
0 | USD |
CY2015Q2 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-1000000 | USD |
CY2014Q2 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
|
0 | USD |
CY2015Q2 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
|
-1000000 | USD |
CY2014Q2 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
0 | USD |
CY2015Q2 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-2000000 | USD |
CY2014Q2 | us-gaap |
Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
|
0 | USD |
CY2015Q2 | us-gaap |
Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
|
1000000 | USD |
CY2015Q2 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
166000000 | USD |
CY2015Q1 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
168000000 | USD |
CY2014Q2 | us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
1000000 | USD |
CY2015Q2 | us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
1000000 | USD |
CY2014Q2 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
2000000 | USD |
CY2015Q2 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-1000000 | USD |
CY2014Q2 | us-gaap |
Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
|
0 | USD |
CY2015Q2 | us-gaap |
Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
|
-1000000 | USD |
CY2014Q2 | us-gaap |
Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
|
212000000 | USD |
CY2015Q2 | us-gaap |
Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
|
6000000 | USD |
CY2014Q2 | us-gaap |
Payments Of Dividends
PaymentsOfDividends
|
24000000 | USD |
CY2015Q2 | us-gaap |
Payments Of Dividends
PaymentsOfDividends
|
24000000 | USD |
CY2014Q2 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
10000000 | USD |
CY2015Q2 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
3000000 | USD |
CY2015Q2 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2015Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2015Q2 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | shares |
CY2015Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | shares |
CY2015Q2 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2015Q1 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2015Q2 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2015Q1 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2015Q2 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
CY2015Q1 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
CY2015Q2 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
297000000 | USD |
CY2015Q1 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
273000000 | USD |
CY2014Q2 | us-gaap |
Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
|
2000000 | USD |
CY2015Q2 | us-gaap |
Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
|
1000000 | USD |
CY2014Q2 | us-gaap |
Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
|
1000000 | USD |
CY2015Q2 | us-gaap |
Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
|
1000000 | USD |
CY2015Q2 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
308000000 | USD |
CY2015Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
308000000 | USD |
CY2015Q2 | us-gaap |
Receivables Net Current
ReceivablesNetCurrent
|
977000000 | USD |
CY2015Q1 | us-gaap |
Receivables Net Current
ReceivablesNetCurrent
|
896000000 | USD |
CY2014Q2 | us-gaap |
Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
|
0 | USD |
CY2015Q2 | us-gaap |
Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
|
29000000 | USD |
CY2015Q2 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-419000000 | USD |
CY2015Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-424000000 | USD |
CY2014Q2 | us-gaap |
Revenues
Revenues
|
1312000000 | USD |
CY2015Q1 | us-gaap |
Revenues
Revenues
|
373000000 | USD |
CY2015Q2 | us-gaap |
Revenues
Revenues
|
1246000000 | USD |
CY2014Q2 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
84000000 | USD |
CY2015Q2 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
75000000 | USD |
CY2014Q2 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
11000000 | USD |
CY2015Q2 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
6000000 | USD |
CY2014Q2 | us-gaap |
Stock Issued1
StockIssued1
|
1000000 | USD |
CY2015Q2 | us-gaap |
Stock Issued1
StockIssued1
|
1000000 | USD |
CY2015 | us-gaap |
Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
|
6300000 | shares |
CY2015Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1000000000 | USD |
CY2015Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
998000000 | USD |
CY2015Q2 | us-gaap |
Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
|
0.25 | |
CY2014Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
78000000 | shares |
CY2015Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
75000000 | shares |
CY2014Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
77000000 | shares |
CY2015Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
73000000 | shares |
CY2015Q2 | us-gaap |
Fiscal Period
FiscalPeriod
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;">Fiscal Year End Change</font></div><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">On March 20, 2015, the Board of Directors of the Company approved the amendment and restatement of the bylaws of the Company to change both Leidos' and Leidos, Inc.'s year end from the Friday nearest the end of January to the Friday nearest the end of December.</font></div><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">As a result of this change, the Company will file its Annual Report on Form 10-K, which will cover the 11 month period ending on January 1, 2016, as its transition report. This change does not impact the Company's prior year, which ended January 30, 2015. </font></div><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In order to allow an immediate transition to the new calendar and to maintain transparency and comparability of financial information included in the Company's quarterly Form 10-Q filings, the quarterly information in this Form 10-Q is being presented on a three month basis for the current year which includes the last month of the year ended January 30, 2015. Therefore, the condensed consolidated statements of income and comprehensive income and the condensed consolidated statements of cash flows reflect the results for the three month period ended April 3, 2015.</font></div><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The Company's business is primarily driven by productive hours and time sold in relation to the solutions and services provided to its customers, as such the productive hours and time sold do not vary materially quarter over quarter. Therefore, the Company does not believe that the change in its year end has a material effect on the comparability of the prior periods presented. As such, the quarterly periods of the prior year have not been recast to correspond with the new quarterly periods.</font></div><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The following table shows the periods included in each quarter and year end:</font></div><div style="line-height:120%;padding-top:8px;text-align:left;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3" rowspan="1"></td></tr><tr><td width="30%" rowspan="1" colspan="1"></td><td width="35%" rowspan="1" colspan="1"></td><td width="35%" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Period</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Current year</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Prior year</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">First Quarter</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">January 3, 2015 to April 3, 2015</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">February 1, 2014 to May 2, 2014</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Second Quarter</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">April 4, 2015 to July 3, 2015</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">May 3, 2014 to August 1, 2014</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Third Quarter</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">July 4, 2015 to October 2, 2015</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">August 2, 2014 to October 31, 2014</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Year End</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">January 31, 2015 to January 1, 2016 (transition period)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">February 1, 2014 to January 30, 2015</font></div></td></tr></table></div></div></div> |