$LDOS
Leidos Holdings, Inc. Stock $ldos

$ldos Overview Financials Valuation SEC Filings Company Website

2020 Q4 Form 10-Q Financial Statement

#000133692020000083 Filed on November 02, 2020

Income Statement

Concept	2020 Q4	2020 Q1	2019 Q3
Revenue	$3.242B	$2.954B	$2.835B
YoY Change		14.63%	10.1%
Cost Of Revenue	$2.774B	$2.527B	$2.450B
YoY Change		13.78%	12.7%
Gross Profit	$468.0M	$427.0M	$385.0M
YoY Change		19.94%	-3.99%
Gross Profit Margin	14.44%	14.45%	13.58%
Selling, General & Admin	$200.0M	$166.0M	$177.0M
YoY Change		0.0%	-8.76%
% of Gross Profit	42.74%	38.88%	45.97%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$82.00M	$60.00M	$16.00M
YoY Change		3.45%	14.29%
% of Gross Profit	17.52%	14.05%	4.16%
Operating Expenses	$200.0M	$166.0M	$177.0M
YoY Change		0.0%	-8.76%
Operating Profit	$258.0M	$261.0M	$249.0M
YoY Change		35.94%	22.66%
Interest Expense	-$47.00M	-$32.00M	-$22.00M
YoY Change		-5.88%	-29.03%
% of Operating Profit	-18.22%	-12.26%	-8.84%
Other Income/Expense, Net	$0.00	$0.00	-$7.000M
YoY Change		-100.0%	-450.0%
Pretax Income	$214.0M	$227.0M	$214.0M
YoY Change		-7.72%	25.88%
Income Tax	$51.00M	$46.00M	$52.00M
% Of Pretax Income	23.83%	20.26%	24.3%
Net Earnings	$163.0M	$181.0M	$161.0M
YoY Change		-4.23%	9.52%
Net Earnings / Revenue	5.03%	6.13%	5.68%
Basic Earnings Per Share	$1.15		$1.13
Diluted Earnings Per Share	$1.13	$1.275M	$1.11
COMMON SHARES
Basic Shares Outstanding	142.0M shares	141.4M shares	143.0M shares
Diluted Shares Outstanding	144.0M shares		145.0M shares

Balance Sheet

Concept	2020 Q4	2020 Q1	2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments	$512.0M	$668.0M	$635.0M
YoY Change		24.63%	23.3%
Cash & Equivalents	$512.0M	$668.0M	$635.0M
Short-Term Investments
Other Short-Term Assets	$523.0M	$338.0M	$514.0M
YoY Change		-21.4%	424.49%
Inventory	$292.0M	$72.00M
Prepaid Expenses
Receivables	$1.872B	$1.734B	$1.775B
Other Receivables	$0.00	$0.00	$0.00
Total Short-Term Assets	$3.199B	$2.812B	$2.924B
YoY Change		-1.68%	1.49%
LONG-TERM ASSETS
Property, Plant & Equipment	$577.0M	$287.0M	$228.0M
YoY Change		30.45%	-0.87%
Goodwill	$6.158B	$4.912B	$4.889B
YoY Change		0.84%	0.16%
Intangibles	$1.335B	$530.0M	$571.0M
YoY Change		-13.54%	-18.66%
Long-Term Investments		$19.00M
YoY Change
Other Assets	$435.0M	$426.0M	$404.0M
YoY Change		9.23%	88.79%
Total Long-Term Assets	$9.086B	$6.555B	$6.486B
YoY Change		0.85%	7.62%
TOTAL ASSETS
Total Short-Term Assets	$3.199B	$2.812B	$2.924B
Total Long-Term Assets	$9.086B	$6.555B	$6.486B
Total Assets	$12.29B	$9.367B	$9.410B
YoY Change		0.07%	5.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$1.569B	$592.0M	$1.419B
YoY Change		-52.94%	-10.75%
Accrued Expenses	$850.0M	$822.0M	$587.0M
YoY Change		59.92%	43.17%
Deferred Revenue	$578.0M	$400.0M	$444.0M
YoY Change		-17.36%	22.65%
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due	$401.0M	$61.00M	$77.00M
YoY Change		-7.58%	37.5%
Total Short-Term Liabilities	$3.398B	$2.333B	$2.527B
YoY Change		0.47%	20.74%
LONG-TERM LIABILITIES
Long-Term Debt	$4.125B	$2.925B	$2.939B
YoY Change		-1.38%	-1.54%
Other Long-Term Liabilities	$282.0M	$182.0M	$203.0M
YoY Change		-34.06%	43.97%
Total Long-Term Liabilities	$282.0M	$182.0M	$203.0M
YoY Change		-34.06%	43.97%
TOTAL LIABILITIES
Total Short-Term Liabilities	$3.398B	$2.333B	$2.527B
Total Long-Term Liabilities	$282.0M	$182.0M	$203.0M
Total Liabilities	$3.680B	$2.515B	$2.730B
YoY Change		-3.19%	22.2%
SHAREHOLDERS EQUITY
Retained Earnings	$1.180B	$896.0M	$764.0M
YoY Change		59.43%	230.74%
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	$3.706B	$3.413B	$3.246B
YoY Change
Total Liabilities & Shareholders Equity	$12.29B	$9.367B	$9.410B
YoY Change		0.07%	5.64%

Cashflow Statement

Concept	2020 Q4	2020 Q1	2019 Q3
OPERATING ACTIVITIES
Net Income	$163.0M	$181.0M	$161.0M
YoY Change		-4.23%	9.52%
Depreciation, Depletion And Amortization	$82.00M	$60.00M	$16.00M
YoY Change		3.45%	14.29%
Cash From Operating Activities	$592.0M	$169.0M	$349.0M
YoY Change		-41.32%	-5.93%
INVESTING ACTIVITIES
Capital Expenditures	-$30.00M	-$54.00M	-$21.00M
YoY Change		80.0%	-16.0%
Acquisitions
YoY Change
Other Investing Activities	$15.00M	$0.00	-$81.00M
YoY Change			-302.5%
Cash From Investing Activities	-$15.00M	-$54.00M	-$102.0M
YoY Change		-122.78%	-780.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-517.0M	-144.0M	-204.0M
YoY Change		-51.52%	52.24%
NET CHANGE
Cash From Operating Activities	592.0M	169.0M	349.0M
Cash From Investing Activities	-15.00M	-54.00M	-102.0M
Cash From Financing Activities	-517.0M	-144.0M	-204.0M
Net Change In Cash	60.00M	-29.00M	43.00M
YoY Change		-112.72%	-82.94%
FREE CASH FLOW
Cash From Operating Activities	$592.0M	$169.0M	$349.0M
Capital Expenditures	-$30.00M	-$54.00M	-$21.00M
Free Cash Flow	$622.0M	$223.0M	$370.0M
YoY Change		-29.87%	-6.57%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
	dei	Amendment Flag AmendmentFlag	false
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2020
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q3
	dei	Entity Central Index Key EntityCentralIndexKey	0001336920
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--01-01
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CY2020Q4	us-gaap	Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1 RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1	P1Y
CY2020Q4	us-gaap	Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1 RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
	dei	Document Type DocumentType	10-Q
	dei	Document Quarterly Report DocumentQuarterlyReport	true
	dei	Document Period End Date DocumentPeriodEndDate	2020-10-02
	dei	Document Transition Report DocumentTransitionReport	false
	dei	Entity File Number EntityFileNumber	001-33072
	dei	Entity Registrant Name EntityRegistrantName	Leidos Holdings, Inc.
	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	DE
	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	20-3562868
	dei	Entity Address Address Line1 EntityAddressAddressLine1	1750 Presidents Street,
	dei	Entity Address City Or Town EntityAddressCityOrTown	Reston,
	dei	Entity Address State Or Province EntityAddressStateOrProvince	VA
	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	20190
	dei	City Area Code CityAreaCode	571
	dei	Local Phone Number LocalPhoneNumber	526-6000
	dei	Security12b Title Security12bTitle	Common stock, par value $.0001 per share
	dei	Trading Symbol TradingSymbol	LDOS
	dei	Security Exchange Name SecurityExchangeName	NYSE
	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
	dei	Entity Filer Category EntityFilerCategory	Large Accelerated Filer
	dei	Entity Small Business EntitySmallBusiness	false
	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
	dei	Entity Shell Company EntityShellCompany	false
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	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	-78000000	USD
CY2020Q4	us-gaap	Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest	192000000	USD
CY2019Q3	us-gaap	Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest	127000000	USD
	us-gaap	Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest	404000000	USD
	us-gaap	Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest	411000000	USD
CY2020Q4	us-gaap	Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest	0	USD
CY2019Q3	us-gaap	Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest	1000000	USD
	us-gaap	Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest	1000000	USD
	us-gaap	Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest	3000000	USD
CY2020Q4	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	192000000	USD
CY2019Q3	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	126000000	USD
	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	403000000	USD
	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	408000000	USD
CY2020Q1	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	3417000000	USD
CY2020Q2	us-gaap	Profit Loss ProfitLoss	115000000	USD
CY2020Q2	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	-115000000	USD
CY2020Q2	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	9000000	USD
CY2020Q2	us-gaap	Stock Repurchased And Retired During Period Value StockRepurchasedAndRetiredDuringPeriodValue	32000000	USD
CY2020Q2	us-gaap	Common Stock Dividends Per Share Declared CommonStockDividendsPerShareDeclared	0.34
CY2020Q2	us-gaap	Dividends Common Stock DividendsCommonStock	49000000	USD
CY2020Q2	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	15000000	USD
CY2020Q2	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	3359000000	USD
CY2020Q3	us-gaap	Profit Loss ProfitLoss	154000000	USD
CY2020Q3	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	58000000	USD
CY2020Q3	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	8000000	USD
CY2020Q3	us-gaap	Stock Repurchased And Retired During Period Value StockRepurchasedAndRetiredDuringPeriodValue	2000000	USD
CY2020Q3	us-gaap	Common Stock Dividends Per Share Declared CommonStockDividendsPerShareDeclared	0.34
CY2020Q3	us-gaap	Dividends Common Stock DividendsCommonStock	49000000	USD
CY2020Q3	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	15000000	USD
CY2020Q3	us-gaap	Noncontrolling Interest Increase From Subsidiary Equity Issuance NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance	4000000	USD
CY2020Q3	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	3547000000	USD
CY2020Q4	us-gaap	Profit Loss ProfitLoss	163000000	USD
CY2020Q4	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	29000000	USD
CY2020Q4	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	10000000	USD
CY2020Q4	us-gaap	Stock Repurchased And Retired During Period Value StockRepurchasedAndRetiredDuringPeriodValue	1000000	USD
CY2020Q4	us-gaap	Common Stock Dividends Per Share Declared CommonStockDividendsPerShareDeclared	0.34
CY2020Q4	us-gaap	Dividends Common Stock DividendsCommonStock	48000000	USD
CY2020Q4	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	15000000	USD
CY2020Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	3715000000	USD
CY2018Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	3311000000	USD
CY2019Q1	us-gaap	Profit Loss ProfitLoss	189000000	USD
CY2019Q1	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	-5000000	USD
CY2019Q1	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	11000000	USD
CY2019Q1	us-gaap	Stock Repurchased And Retired During Period Value StockRepurchasedAndRetiredDuringPeriodValue	222000000	USD
CY2019Q1	us-gaap	Common Stock Dividends Per Share Declared CommonStockDividendsPerShareDeclared	0.32
CY2019Q1	us-gaap	Dividends Common Stock DividendsCommonStock	47000000	USD
CY2019Q1	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	12000000	USD
CY2019Q1	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	3297000000	USD
CY2019Q2	us-gaap	Profit Loss ProfitLoss	138000000	USD
CY2019Q2	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	-38000000	USD
CY2019Q2	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	6000000	USD
CY2019Q2	us-gaap	Stock Repurchased And Retired During Period Value StockRepurchasedAndRetiredDuringPeriodValue	5000000	USD
CY2019Q2	us-gaap	Common Stock Dividends Per Share Declared CommonStockDividendsPerShareDeclared	0.32
CY2019Q2	us-gaap	Dividends Common Stock DividendsCommonStock	46000000	USD
CY2019Q2	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	13000000	USD
CY2019Q2	us-gaap	Stockholders Equity Other StockholdersEquityOther	3000000	USD
CY2019Q2	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	3362000000	USD
CY2019Q3	us-gaap	Profit Loss ProfitLoss	162000000	USD
CY2019Q3	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	-35000000	USD
CY2019Q3	us-gaap	Stock Repurchased And Retired During Period Value StockRepurchasedAndRetiredDuringPeriodValue	203000000	USD
CY2019Q3	us-gaap	Common Stock Dividends Per Share Declared CommonStockDividendsPerShareDeclared	0.34
CY2019Q3	us-gaap	Dividends Common Stock DividendsCommonStock	49000000	USD
CY2019Q3	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	13000000	USD
CY2019Q3	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	3250000000	USD
	us-gaap	Profit Loss ProfitLoss	432000000	USD
	us-gaap	Profit Loss ProfitLoss	489000000	USD
	us-gaap	Gain Loss On Sale Of Business GainLossOnSaleOfBusiness	0	USD
	us-gaap	Proceeds From Sale Of Productive Assets ProceedsFromSaleOfProductiveAssets	96000000	USD
	us-gaap	Gain Loss On Sale Of Business GainLossOnSaleOfBusiness	87000000	USD
	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	214000000	USD
	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	174000000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	45000000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	38000000	USD
	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	-31000000	USD
	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	0	USD
	us-gaap	Asset Impairment Charges AssetImpairmentCharges	11000000	USD
	us-gaap	Asset Impairment Charges AssetImpairmentCharges	0	USD
	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	-2000000	USD
	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	29000000	USD
	us-gaap	Provision For Doubtful Accounts ProvisionForDoubtfulAccounts	11000000	USD
	us-gaap	Provision For Doubtful Accounts ProvisionForDoubtfulAccounts	19000000	USD
	us-gaap	Other Noncash Income Expense OtherNoncashIncomeExpense	-4000000	USD
	us-gaap	Other Noncash Income Expense OtherNoncashIncomeExpense	-3000000	USD
	us-gaap	Increase Decrease In Receivables IncreaseDecreaseInReceivables	-140000000	USD
	us-gaap	Increase Decrease In Receivables IncreaseDecreaseInReceivables	-68000000	USD
	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	-49000000	USD
	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	-34000000	USD
	ldos	Increase Decrease In Accounts Payable And Accrued Liabilities And Other Noncurrent Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilitiesAndOtherNoncurrentLiabilities	211000000	USD
	ldos	Increase Decrease In Accounts Payable And Accrued Liabilities And Other Noncurrent Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilitiesAndOtherNoncurrentLiabilities	93000000	USD
	us-gaap	Increase Decrease In Employee Related Liabilities IncreaseDecreaseInEmployeeRelatedLiabilities	247000000	USD
	us-gaap	Increase Decrease In Employee Related Liabilities IncreaseDecreaseInEmployeeRelatedLiabilities	-17000000	USD
	us-gaap	Increase Decrease In Income Taxes IncreaseDecreaseInIncomeTaxes	-7000000	USD
	us-gaap	Increase Decrease In Income Taxes IncreaseDecreaseInIncomeTaxes	-20000000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	1386000000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	823000000	USD
	us-gaap	Payments To Acquire Businesses Net Of Cash Acquired PaymentsToAcquireBusinessesNetOfCashAcquired	2610000000	USD
	us-gaap	Payments To Acquire Businesses Net Of Cash Acquired PaymentsToAcquireBusinessesNetOfCashAcquired	94000000	USD
	us-gaap	Payments To Acquire Productive Assets PaymentsToAcquireProductiveAssets	120000000	USD
	us-gaap	Payments To Acquire Productive Assets PaymentsToAcquireProductiveAssets	67000000	USD
	us-gaap	Proceeds From Divestiture Of Businesses ProceedsFromDivestitureOfBusinesses	0	USD
	us-gaap	Proceeds From Divestiture Of Businesses ProceedsFromDivestitureOfBusinesses	183000000	USD
	us-gaap	Proceeds From Sale Of Productive Assets ProceedsFromSaleOfProductiveAssets	10000000	USD
	us-gaap	Payments For Proceeds From Other Investing Activities PaymentsForProceedsFromOtherInvestingActivities	-6000000	USD
	us-gaap	Payments For Proceeds From Other Investing Activities PaymentsForProceedsFromOtherInvestingActivities	-1000000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-2714000000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	119000000	USD
	us-gaap	Proceeds From Issuance Of Debt ProceedsFromIssuanceOfDebt	6225000000	USD
	us-gaap	Proceeds From Issuance Of Debt ProceedsFromIssuanceOfDebt	0	USD
	us-gaap	Repayments Of Long Term Debt And Capital Securities RepaymentsOfLongTermDebtAndCapitalSecurities	4680000000	USD
	us-gaap	Repayments Of Long Term Debt And Capital Securities RepaymentsOfLongTermDebtAndCapitalSecurities	50000000	USD
	us-gaap	Payments Of Debt Issuance Costs PaymentsOfDebtIssuanceCosts	39000000	USD
	us-gaap	Payments Of Debt Issuance Costs PaymentsOfDebtIssuanceCosts	0	USD
	us-gaap	Payments Of Ordinary Dividends PaymentsOfOrdinaryDividends	148000000	USD
	us-gaap	Payments Of Ordinary Dividends PaymentsOfOrdinaryDividends	101000000	USD
	us-gaap	Payments For Repurchase Of Equity PaymentsForRepurchaseOfEquity	35000000	USD
	us-gaap	Payments For Repurchase Of Equity PaymentsForRepurchaseOfEquity	430000000	USD
	us-gaap	Proceeds From Issuance Or Sale Of Equity ProceedsFromIssuanceOrSaleOfEquity	26000000	USD
	us-gaap	Proceeds From Issuance Or Sale Of Equity ProceedsFromIssuanceOrSaleOfEquity	16000000	USD
	us-gaap	Proceeds From Payments For Other Financing Activities ProceedsFromPaymentsForOtherFinancingActivities	4000000	USD
	us-gaap	Proceeds From Payments For Other Financing Activities ProceedsFromPaymentsForOtherFinancingActivities	0	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	1353000000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-565000000	USD
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	25000000	USD
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	377000000	USD
CY2020Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	717000000	USD
CY2018Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	369000000	USD
CY2020Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	742000000	USD
CY2019Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	746000000	USD
	us-gaap	Number Of Reportable Segments NumberOfReportableSegments	3	segment
CY2019Q3	ldos	Increase Decrease In Income From Change In Contract Estimates Per Diluted Share IncreaseDecreaseInIncomeFromChangeInContractEstimatesPerDilutedShare	0.06
	ldos	Increase Decrease In Income From Change In Contract Estimates Per Diluted Share IncreaseDecreaseInIncomeFromChangeInContractEstimatesPerDilutedShare	0.21
CY2020Q4	ldos	Increase In Income Before Income Taxes From Changes In Contract Estimates IncreaseInIncomeBeforeIncomeTaxesFromChangesInContractEstimates	34000000	USD
CY2019Q3	ldos	Increase In Income Before Income Taxes From Changes In Contract Estimates IncreaseInIncomeBeforeIncomeTaxesFromChangesInContractEstimates	23000000	USD
	ldos	Increase In Income Before Income Taxes From Changes In Contract Estimates IncreaseInIncomeBeforeIncomeTaxesFromChangesInContractEstimates	86000000	USD
	ldos	Increase In Income Before Income Taxes From Changes In Contract Estimates IncreaseInIncomeBeforeIncomeTaxesFromChangesInContractEstimates	69000000	USD
CY2020Q4	ldos	Decrease In Income Before Income Taxes From Changes In Contract Estimates DecreaseInIncomeBeforeIncomeTaxesFromChangesInContractEstimates	19000000	USD
CY2019Q3	ldos	Decrease In Income Before Income Taxes From Changes In Contract Estimates DecreaseInIncomeBeforeIncomeTaxesFromChangesInContractEstimates	11000000	USD
	ldos	Decrease In Income Before Income Taxes From Changes In Contract Estimates DecreaseInIncomeBeforeIncomeTaxesFromChangesInContractEstimates	45000000	USD
	ldos	Decrease In Income Before Income Taxes From Changes In Contract Estimates DecreaseInIncomeBeforeIncomeTaxesFromChangesInContractEstimates	40000000	USD
CY2020Q4	ldos	Increase Decrease In Income From Change In Contract Estimates IncreaseDecreaseInIncomeFromChangeInContractEstimates	15000000	USD
CY2019Q3	ldos	Increase Decrease In Income From Change In Contract Estimates IncreaseDecreaseInIncomeFromChangeInContractEstimates	12000000	USD
	ldos	Increase Decrease In Income From Change In Contract Estimates IncreaseDecreaseInIncomeFromChangeInContractEstimates	41000000	USD
	ldos	Increase Decrease In Income From Change In Contract Estimates IncreaseDecreaseInIncomeFromChangeInContractEstimates	29000000	USD
CY2020Q4	ldos	Increase Decrease In Income From Change In Contract Estimates Per Diluted Share IncreaseDecreaseInIncomeFromChangeInContractEstimatesPerDilutedShare	0.07
	ldos	Increase Decrease In Income From Change In Contract Estimates Per Diluted Share IncreaseDecreaseInIncomeFromChangeInContractEstimatesPerDilutedShare	0.15
CY2020Q4	us-gaap	Contract With Customer Performance Obligation Satisfied In Previous Period ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod	10000000	USD
	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	8052000000	USD
CY2020Q4	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	3218000000	USD
	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	8974000000	USD
	us-gaap	Contract With Customer Performance Obligation Satisfied In Previous Period ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod	42000000	USD
CY2019Q3	us-gaap	Contract With Customer Performance Obligation Satisfied In Previous Period ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod	17000000	USD
	us-gaap	Contract With Customer Performance Obligation Satisfied In Previous Period ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod	36000000	USD
CY2020Q4	us-gaap	Revenue Remaining Performance Obligation RevenueRemainingPerformanceObligation	15300000000	USD
CY2020Q4	us-gaap	Revenue Remaining Performance Obligation RevenueRemainingPerformanceObligation	3300000000	USD
CY2020Q4	us-gaap	Revenue Remaining Performance Obligation RevenueRemainingPerformanceObligation	5700000000	USD
CY2020Q4	us-gaap	Revenue Remaining Performance Obligation RevenueRemainingPerformanceObligation	6300000000	USD
CY2020Q4	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	3218000000	USD
	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	8974000000	USD
CY2019Q3	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	2777000000	USD
	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	8052000000	USD
CY2020Q4	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	3218000000	USD
	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	8974000000	USD
CY2019Q3	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	2777000000	USD
CY2019Q3	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	2777000000	USD
	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	8052000000	USD
CY2020Q4	ldos	Sale Type Lease And Operating Lease Revenue SaleTypeLeaseAndOperatingLeaseRevenue	24000000	USD
	ldos	Sale Type Lease And Operating Lease Revenue SaleTypeLeaseAndOperatingLeaseRevenue	71000000	USD
CY2019Q3	ldos	Sale Type Lease And Operating Lease Revenue SaleTypeLeaseAndOperatingLeaseRevenue	58000000	USD
	ldos	Sale Type Lease And Operating Lease Revenue SaleTypeLeaseAndOperatingLeaseRevenue	88000000	USD
CY2020Q4	us-gaap	Contract With Customer Asset Net Current ContractWithCustomerAssetNetCurrent	829000000	USD
CY2020Q1	us-gaap	Contract With Customer Asset Net Current ContractWithCustomerAssetNetCurrent	735000000	USD
CY2020Q4	us-gaap	Contract With Customer Liability Current ContractWithCustomerLiabilityCurrent	578000000	USD
CY2020Q1	us-gaap	Contract With Customer Liability Current ContractWithCustomerLiabilityCurrent	400000000	USD
CY2020Q4	us-gaap	Contract With Customer Liability Noncurrent ContractWithCustomerLiabilityNoncurrent	21000000	USD
CY2020Q1	us-gaap	Contract With Customer Liability Noncurrent ContractWithCustomerLiabilityNoncurrent	9000000	USD
CY2020Q4	us-gaap	Contract With Customer Liability Revenue Recognized ContractWithCustomerLiabilityRevenueRecognized	41000000	USD
	us-gaap	Contract With Customer Liability Revenue Recognized ContractWithCustomerLiabilityRevenueRecognized	267000000	USD
CY2020Q1	us-gaap	Inventory Net InventoryNet	72000000	USD
CY2019Q3	us-gaap	Contract With Customer Liability Revenue Recognized ContractWithCustomerLiabilityRevenueRecognized	11000000	USD
	us-gaap	Contract With Customer Liability Revenue Recognized ContractWithCustomerLiabilityRevenueRecognized	200000000	USD
CY2020Q4	us-gaap	Inventory Raw Materials Net Of Reserves InventoryRawMaterialsNetOfReserves	148000000	USD
CY2020Q1	us-gaap	Inventory Raw Materials Net Of Reserves InventoryRawMaterialsNetOfReserves	46000000	USD
CY2020Q4	us-gaap	Inventory Work In Process Net Of Reserves InventoryWorkInProcessNetOfReserves	79000000	USD
CY2020Q1	us-gaap	Inventory Work In Process Net Of Reserves InventoryWorkInProcessNetOfReserves	13000000	USD
CY2020Q4	us-gaap	Inventory Finished Goods Net Of Reserves InventoryFinishedGoodsNetOfReserves	65000000	USD
CY2020Q1	us-gaap	Inventory Finished Goods Net Of Reserves InventoryFinishedGoodsNetOfReserves	13000000	USD
CY2020Q4	us-gaap	Inventory Net InventoryNet	292000000	USD
CY2020Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear	58000000	USD
CY2020Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense Next Twelve Months FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths	219000000	USD
CY2020Q4	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	2012000000	USD
CY2020Q4	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	779000000	USD
CY2020Q4	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	1233000000	USD
CY2020Q1	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	1151000000	USD
CY2020Q1	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	625000000	USD
CY2020Q1	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	526000000	USD
CY2020Q4	us-gaap	Intangible Assets Gross Excluding Goodwill IntangibleAssetsGrossExcludingGoodwill	2114000000	USD
CY2020Q4	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	779000000	USD
CY2020Q4	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	1335000000	USD
CY2020Q1	us-gaap	Intangible Assets Gross Excluding Goodwill IntangibleAssetsGrossExcludingGoodwill	1155000000	USD
CY2020Q1	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	625000000	USD
CY2020Q1	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	530000000	USD
CY2020Q4	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	60000000	USD
	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	154000000	USD
CY2019Q3	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	43000000	USD
	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	129000000	USD
CY2018Q4	us-gaap	Goodwill Goodwill	4860000000	USD
CY2020	ldos	Goodwill Re Allocations GoodwillReAllocations	0	USD
CY2020	us-gaap	Goodwill Acquired During Period GoodwillAcquiredDuringPeriod	50000000	USD
CY2020	us-gaap	Goodwill Written Off Related To Sale Of Business Unit GoodwillWrittenOffRelatedToSaleOfBusinessUnit	5000000	USD
CY2020	us-gaap	Goodwill Foreign Currency Translation Gain Loss GoodwillForeignCurrencyTranslationGainLoss	4000000	USD
CY2020	us-gaap	Goodwill Other Increase Decrease GoodwillOtherIncreaseDecrease	3000000	USD
CY2020Q1	us-gaap	Goodwill Goodwill	4912000000	USD
	ldos	Goodwill Re Allocations GoodwillReAllocations	0	USD
	us-gaap	Goodwill Acquired During Period GoodwillAcquiredDuringPeriod	1238000000	USD
	us-gaap	Goodwill Foreign Currency Translation Gain Loss GoodwillForeignCurrencyTranslationGainLoss	8000000	USD
CY2020Q4	us-gaap	Goodwill Goodwill	6158000000	USD
	ldos	Number Of Reportable Segments Goodwill Reallocation NumberOfReportableSegmentsGoodwillReallocation	2	segment
	us-gaap	Goodwill Impairment Loss GoodwillImpairmentLoss	0	USD
	us-gaap	Goodwill Impairment Loss GoodwillImpairmentLoss	0	USD
	us-gaap	Goodwill Impairment Loss GoodwillImpairmentLoss	0	USD
	us-gaap	Cost Of Goods Sold Sales Type Lease CostOfGoodsSoldSalesTypeLease	35000000	USD
CY2020Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Two FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo	208000000	USD
CY2020Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Three FiniteLivedIntangibleAssetsAmortizationExpenseYearThree	182000000	USD
CY2020Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Four FiniteLivedIntangibleAssetsAmortizationExpenseYearFour	133000000	USD
CY2020Q4	ldos	Finite Lived Intangible Asset Expected Amortization After Year Four FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour	433000000	USD
CY2020Q4	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	1233000000	USD
CY2020Q1	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	104000000	USD
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	us-gaap	Loss Contingency Disclosures LossContingencyDisclosures	<div style="margin-top:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Note 15–Contingencies</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Legal Proceedings</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">MSA Joint Venture</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 10, 2015, MSA received a final decision by the Department of Energy ("DoE") contracting officer for the Mission Support Contract concluding that certain payments to MSA by the DoE for the performance of IT services by Lockheed Martin Services, Inc. ("LMSI") under a subcontract to MSA constituted alleged affiliate fees in violation of Federal Acquisition Regulations ("FAR"). Lockheed Martin Integrated Technology LLC (now known as Leidos Integrated Technology LLC) is a member entity of MSA. Subsequent to the contracting officer's final decision, MSA, LMSI, and Lockheed Martin Corporation received notice from the U.S. Attorney's Office for the Eastern District of Washington that the U.S. government had initiated a False Claims Act investigation into the facts surrounding this dispute. On February 8, 2019, the Department of Justice filed a complaint in the United States District Court for the Eastern District of Washington against MSA, Lockheed Martin Corporation, Lockheed Martin Services, Inc. and a Lockheed Martin employee ("Defendants"). The complaint alleges violations of the False Claims Act, the Anti-Kickback Act and breach of contract with the DoE, among other things. On January 13, 2020, the Defendants' motions to dismiss were granted in part and denied in part. Litigation will proceed for the False Claims Act and other common law claims, although the Anti-Kickback Act claim has been dismissed with prejudice. The U.S. Attorney's office had previously advised that a parallel criminal investigation was open, although no subjects or targets of the investigation had been identified. The U.S. Attorney's office has informed MSA that it has closed the criminal investigation.</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Since this issue first was raised by the DoE, MSA has asserted that the IT services performed by LMSI under a fixed-price/fixed-unit rate subcontract approved by the DoE meet the definition of a "commercial item" under the FAR and any profits earned on that subcontract are permissible. MSA filed an appeal of the contracting officer's decision with the Civilian Board of Contract Appeals ("CBCA"), which was stayed pending resolution of the False Claims Act matter. Subsequent to the filing of MSA's appeal, the contracting officer demanded that MSA reimburse the DoE in the amount of $64 million, which was his estimate of the profits earned during the period from 2010 to 2014 by LMSI. The DoE has deferred collection of $32 million of that demand, pending resolution of the appeal and without prejudice to MSA's position that it is not liable for any of the DoE's $64 million reimbursement claim. On December 10, 2019, MSA received a second final decision by the DoE contracting officer, estimating approximately $29 million in alleged unallowable profit and associated general and administrative costs during the period from 2015 to 2016 by LMSI. MSA filed an appeal of the second contracting officer's decision, which has been consolidated with the prior proceeding before the CBCA and stayed pending resolution of the False Claims Act matter. The DoE and MSA also executed an agreement to defer the entire amount of the disallowed costs from the second contracting officer's final decision until the CBCA proceedings are finally resolved. Leidos has agreed to indemnify Jacobs Group, LLC and Centerra Group, LLC for any liability MSA incurs in this matter. Under the terms of the Separation Agreement, Lockheed Martin agreed to indemnify Leidos for 100% of any damages in excess of $38 million up to $64 million, and 50% of any damages in excess of $64 million, with respect to claims asserted against MSA related to this matter. </span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At October 2, 2020, we had a liability of $42 million recorded in the condensed consolidated balance sheets for this matter. The amount of possible loss ultimately incurred, if any, is subject to a range of complex factors and potential outcomes that remain to be determined, including information gathered during the course of litigation, pretrial and trial rulings and other litigation-related developments.</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Securities Litigation</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Between February and April 2012, alleged stockholders filed three putative securities class actions against Leidos and several former executives relating to a contract to develop and implement an automated time and attendance and workforce management system for certain agencies of the City of New York ("CityTime"). One case was withdrawn and two cases were consolidated in the U.S. District Court for the Southern District of New York in </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">In Re: SAIC, Inc. Securities Litigation</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. The consolidated securities complaint asserted claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 based on allegations that Leidos and individual defendants made misleading statements or omissions about revenues, operating income and internal controls in connection with disclosures relating to the CityTime project. The plaintiffs sought to recover from Leidos and the individual defendants an unspecified amount of damages class members allegedly incurred by buying Leidos' stock at an inflated price. The District Court dismissed the plaintiffs' claims with prejudice and without leave to replead. The plaintiffs then appealed to the United States Court of Appeals for the Second Circuit, which issued an opinion affirming in part, and vacating in part, the District Court's ruling. Leidos filed a petition for a writ of certiorari in the U.S. Supreme Court, which was granted on March 27, 2017. The District Court granted Leidos' request to stay all proceedings, including discovery, pending the outcome at the Supreme Court. In September 2017, the parties engaged in mediation resulting in an agreement to settle all remaining claims for an immaterial amount to be paid by Leidos. On October 2, 2019, the court granted preliminary approval of the proposed settlement and on June 29, 2020, the court granted final approval effective July 30, 2020. The settlement payment was disbursed during the three months ended October 2, 2020. The payment by Leidos was covered by an insurance policy.</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Arbitration Proceeding</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Leidos was a party to an arbitration proceeding involving a claim by Lockheed Martin for indemnification for $56 million in taxes attributable to deferred revenue recognized as a result of the acquisition of Lockheed Martin's Information Systems & Global Solutions business. On July 16, 2020, the arbitrators issued a final opinion rejecting Lockheed Martin’s claims. </span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Other</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We are also involved in various claims and lawsuits arising in the normal conduct of our business, none of which, in the opinion of management, based upon current information, will likely have a material adverse effect on our financial position, results of operations or cash flows.</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Other Contingencies</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">VirnetX, Inc. ("VirnetX")</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On September 29, 2017, the federal trial court in the Eastern District of Texas entered a final judgment in the VirnetX v. Apple case referred to as the Apple I case. The court found that Apple willfully infringed the VirnetX patents at issue in the Apple I case and awarded enhanced damages, bringing the total award against Apple to over $343 million in pre-interest damages. The court subsequently awarded an additional sum of over $96 million for costs, attorneys' fees, and interest, bringing the total award to VirnetX in the Apple I case to over $439 million. Apple appealed the judgment in the Apple I case with the U.S. Court of Appeals for the Federal Circuit and on January 15, 2019, the court affirmed the $439 million judgment. On August 1, 2019, the U.S. Court of Appeals for the Federal Circuit denied Apple’s petition for panel and en banc rehearing, but Apple subsequently filed motions to stay and vacate the judgment, and for leave to file a second petition for rehearing. These motions were denied by the court on October 1, 2019. On December 27, 2019, Apple filed a petition in the Apple I matter for a writ of certiorari with the United States Supreme Court, which was denied on February 24, 2020. On February 20, 2020, Apple filed a Motion for Relief from Judgment in the U.S. District Court for the Eastern District of Texas, further arguing that VirnetX should not be allowed to recover the large amount of damages awarded in this case. On March 13, 2020, VirnetX announced that it had received payment from Apple of over $454 million, which represents the judgment with interest for the Apple I matter. On May 22, 2020, Leidos received $85 million from VirnetX representing Leidos' current share of the proceeds resulting from the Apple I case. A net gain of $81 million was recognized during the three months ended July 3, 2020 and was presented in "Bad debt expense and recoveries" on the condensed consolidated statements of income. On July 23, 2020, Leidos paid a 4% royalty on the proceeds received to the customer who paid for the development of the original technology. Apple's Motion for Relief from Judgment was denied by the District Court on September 1, 2020. Apple is expected to appeal the denial of this Motion.</span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">On April 10, 2018, a jury trial concluded in an additional patent infringement case brought by VirnetX against Apple, referred to as the Apple II case, in which the jury returned a verdict against Apple for infringement and awarded VirnetX damages in the amount of over $502 million. On April 11, 2018, in a second phase of the Apple II trial, the jury found Apple's infringement to be willful. On August 30, 2018, the federal trial court in the Eastern District of Texas entered a final judgment and rulings on post-trial motions in the Apple II case. The court affirmed the jury’s verdict of over $502 million and granted VirnetX’s motions for supplemental damages, a sunset royalty and royalty rate of $1.20 per infringing device, along with pre-judgment and post-judgment interest and costs. The court denied VirnetX’s motions for enhanced damages, attorneys’ fees and an injunction. The court also denied Apple’s motions for judgment as a matter of law and for a new trial. An additional sum of over $93 million for costs and pre-judgment interest was subsequently agreed upon pursuant to a court order, bringing the total award to VirnetX in the Apple II case to over $595 million. Apple filed an appeal of the judgment in the Apple II case with the U.S. Court of Appeals for the Federal Circuit, and on November 22, 2019, the Federal Circuit affirmed in part, reversed in part and remanded the Apple II case back to the District Court. The Federal Circuit affirmed that Apple infringed two of the patents at issue in the case, and ruled that Apple is precluded from making certain patent invalidity arguments. However, the Federal Circuit reversed the judgment that Apple infringed two other patents at issue, vacated the prior damages awarded in the Apple II case, and remanded the Apple II case back to the District Court for further proceedings regarding damages. On April 23, 2020, the District Court ordered a new trial on damages in the Apple II case, which was delayed by COVID-19 and started on October 26, 2020. On October 30, 2020, the jury awarded VirnetX $503 million in damages. Apple is expected to appeal this decision.</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Under our agreements with VirnetX, Leidos would receive 25% of the proceeds obtained by VirnetX after reduction for attorneys' fees and costs. However, the verdicts in these cases remain subject to the ongoing and potential future proceedings and appeals. In addition, the patents at issue in these cases are subject to U.S. Patent and Trademark Office post-grant inter partes review and/or reexamination proceedings and related appeals, which may result in all or part of these patents being invalidated or the claims of the patents being limited. Thus, no assurances can be given when or if we will receive any proceeds in connection with these jury awards. In addition, if Leidos receives any proceeds, we are required to pay a royalty to the customer who paid for the development of the technology. </span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Government Investigations and Reviews</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We are routinely subject to investigations and reviews relating to compliance with various laws and regulations with respect to our role as a contractor to federal, state and local government customers and in connection with performing services in countries outside of the United States. Adverse findings could have a material effect on our business, financial position, results of operations and cash flows due to our reliance on government contracts.</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of October 2, 2020, indirect cost audits by the Defense Contract Audit Agency remain open for fiscal 2015 and subsequent fiscal years. Although we have recorded contract revenues based upon an estimate of costs that we believe will be approved upon final audit or review, we cannot predict the outcome of any ongoing or future audits or reviews and adjustments, and if future adjustments exceed estimates, our profitability may be adversely affected. As of October 2, 2020, we believe we have adequately reserved for potential adjustments from audits or reviews of contract costs.</span></div>

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$LDOS
Leidos Holdings, Inc. Stock $ldos

2020 Q4 Form 10-Q Financial Statement

#000133692020000083 Filed on November 02, 2020

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$LDOS Leidos Holdings, Inc. Stock $ldos

2020 Q4 Form 10-Q Financial Statement

#000133692020000083 Filed on November 02, 2020

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$LDOS
Leidos Holdings, Inc. Stock $ldos