$LDOS
Leidos Holdings, Inc.

2022 Q3 Form 10-Q Financial Statement

#000133692022000034 Filed on August 02, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2021 Q4
Revenue $3.597B $3.494B $3.483B
YoY Change 4.32% 5.4% 7.43%
Cost Of Revenue $3.059B $2.982B $2.942B
YoY Change 3.69% 4.71% 6.06%
Gross Profit $538.0M $512.0M $541.0M
YoY Change 8.03% 9.64% 15.6%
Gross Profit Margin 14.96% 14.65% 15.53%
Selling, General & Admin $260.0M $236.0M $233.0M
YoY Change 16.07% 48.43% 16.5%
% of Gross Profit 48.33% 46.09% 43.07%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $83.00M $85.00M $87.00M
YoY Change 3.75% 10.39% 6.1%
% of Gross Profit 15.43% 16.6% 16.08%
Operating Expenses $260.0M $236.0M $233.0M
YoY Change 16.07% 48.43% 16.5%
Operating Profit $271.0M $271.0M $305.0M
YoY Change 0.74% -12.01% 18.22%
Interest Expense -$47.00M -$50.00M -$42.00M
YoY Change 11.9% 25.0% -10.64%
% of Operating Profit -17.34% -18.45% -13.77%
Other Income/Expense, Net $4.000M -$1.000M $2.000M
YoY Change 0.0%
Pretax Income $225.0M $222.0M $260.0M
YoY Change 0.9% -15.27% 21.5%
Income Tax $53.00M $45.00M $52.00M
% Of Pretax Income 23.56% 20.27% 20.0%
Net Earnings $171.0M $175.0M $205.0M
YoY Change 1.18% -14.63% 25.77%
Net Earnings / Revenue 4.75% 5.01% 5.89%
Basic Earnings Per Share $1.25 $1.26 $1.45
Diluted Earnings Per Share $1.24 $1.25 $1.43
COMMON SHARES
Basic Shares Outstanding 137.0M shares 139.0M shares 141.0M shares
Diluted Shares Outstanding 138.0M shares 140.0M shares 143.0M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $339.0M $297.0M $587.0M
YoY Change 0.3% -21.22% 14.65%
Cash & Equivalents $339.0M $297.0M $727.0M
Short-Term Investments
Other Short-Term Assets $478.0M $492.0M $429.0M
YoY Change 18.61% 8.85% -17.97%
Inventory $286.0M $279.0M $274.0M
Prepaid Expenses
Receivables $2.423B $2.419B $2.189B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.526B $3.487B $3.619B
YoY Change 8.06% 7.06% 13.13%
LONG-TERM ASSETS
Property, Plant & Equipment $669.0M $674.0M $670.0M
YoY Change 2.29% 2.9% 16.12%
Goodwill $6.673B $6.742B $6.744B
YoY Change -0.51% 4.43% 9.52%
Intangibles $1.038B $1.109B $1.177B
YoY Change -21.9% -10.13% -11.84%
Long-Term Investments $25.00M
YoY Change
Other Assets $367.0M $418.0M $439.0M
YoY Change -18.08% -7.52% 0.92%
Total Long-Term Assets $9.361B $9.543B $9.642B
YoY Change -4.21% 1.73% 6.12%
TOTAL ASSETS
Total Short-Term Assets $3.526B $3.487B $3.619B
Total Long-Term Assets $9.361B $9.543B $9.642B
Total Assets $12.89B $13.03B $13.26B
YoY Change -1.14% 3.1% 7.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.740B $1.832B $692.0M
YoY Change 7.14% 7.76% -55.9%
Accrued Expenses $701.0M $724.0M $1.053B
YoY Change 2.64% 5.85% 23.88%
Deferred Revenue $312.0M $382.0M $364.0M
YoY Change -2.5% -11.78% -37.02%
Short-Term Debt $530.0M $455.0M $380.0M
YoY Change
Long-Term Debt Due $1.153B $556.0M $484.0M
YoY Change 139.71% 439.81% 20.7%
Total Short-Term Liabilities $3.906B $3.494B $3.229B
YoY Change 25.68% 19.66% -4.97%
LONG-TERM LIABILITIES
Long-Term Debt $4.023B $4.569B $4.616B
YoY Change -13.28% -2.02% 11.9%
Other Long-Term Liabilities $198.0M $195.0M $267.0M
YoY Change -30.53% -29.09% -5.32%
Total Long-Term Liabilities $198.0M $195.0M $267.0M
YoY Change -30.53% -29.09% -5.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.906B $3.494B $3.229B
Total Long-Term Liabilities $198.0M $195.0M $267.0M
Total Liabilities $8.830B $9.022B $8.917B
YoY Change -0.64% 4.2% 142.31%
SHAREHOLDERS EQUITY
Retained Earnings $2.128B $2.007B $1.880B
YoY Change 32.59% 35.24% 59.32%
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 $4.004B $3.955B $4.291B
YoY Change
Total Liabilities & Shareholders Equity $12.89B $13.03B $13.26B
YoY Change -1.14% 3.1% 7.94%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2021 Q4
OPERATING ACTIVITIES
Net Income $171.0M $175.0M $205.0M
YoY Change 1.18% -14.63% 25.77%
Depreciation, Depletion And Amortization $83.00M $85.00M $87.00M
YoY Change 3.75% 10.39% 6.1%
Cash From Operating Activities $40.00M $93.00M $565.0M
YoY Change 135.29% -61.09% -4.56%
INVESTING ACTIVITIES
Capital Expenditures -$21.00M -$28.00M -$24.00M
YoY Change 0.0% 7.69% -20.0%
Acquisitions $2.000M
YoY Change -99.08%
Other Investing Activities $13.00M $7.000M -$29.00M
YoY Change -103.47% -293.33%
Cash From Investing Activities -$8.000M -$21.00M -$53.00M
YoY Change -97.98% -91.39% 253.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $12.00M $137.0M
YoY Change -86.21%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 6.000M -$519.0M -209.0M
YoY Change -98.08% 250.68% -59.57%
NET CHANGE
Cash From Operating Activities 40.00M $93.00M 565.0M
Cash From Investing Activities -8.000M -$21.00M -53.00M
Cash From Financing Activities 6.000M -$519.0M -209.0M
Net Change In Cash 38.00M -$447.0M 303.0M
YoY Change -157.58% 192.16% 405.0%
FREE CASH FLOW
Cash From Operating Activities $40.00M $93.00M $565.0M
Capital Expenditures -$21.00M -$28.00M -$24.00M
Free Cash Flow $61.00M $121.0M $589.0M
YoY Change 60.53% -54.34% -5.31%

Facts In Submission

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CY2021Q4 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
4696000000 usd
CY2022Q3 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
623000000 usd
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
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CY2022Q3 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
4000000 usd
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
53000000 usd
CY2021Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
103000000 usd
CY2022Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
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CY2021Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
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us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
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CY2022Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax
4000000 usd
CY2021Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax
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us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax
36000000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax
9000000 usd
CY2022Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
530000000 usd
CY2021Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
380000000 usd
CY2022Q3 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
4646000000 usd
CY2022Q3 us-gaap Long Term Debt And Capital Lease Obligations
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4023000000 usd
CY2021Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
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CY2022Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
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CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
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CY2022Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
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CY2021Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
43000000 usd
CY2022Q3 us-gaap Commercial Paper
CommercialPaper
150000000 usd
CY2022Q3 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
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us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
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CY2021Q3 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
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us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
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CY2022Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
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CY2022Q3 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
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CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
138000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
141000000 shares
CY2022Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2021Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2000000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1000000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2000000 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
138000000 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
143000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
139000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
143000000 shares
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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1000000 shares
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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1000000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1000000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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ldos Receivable Collectible Period
ReceivableCollectiblePeriod
P30D
us-gaap Accounts Receivable Sale
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209000000 usd
us-gaap Accounts Receivable Sale
AccountsReceivableSale
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ldos Proceeds From Sale Of Receivables Operating Activities
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ldos Proceeds From Sale Of Receivables Operating Activities
ProceedsFromSaleOfReceivablesOperatingActivities
693000000 usd
CY2022Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.236
CY2021Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.238
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.219
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.227
us-gaap Unrecognized Tax Benefits Period Increase Decrease
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55000000 usd
CY2022Q3 us-gaap Revenues
Revenues
3597000000 usd
CY2021Q3 us-gaap Revenues
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3448000000 usd
us-gaap Revenues
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us-gaap Revenues
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CY2022Q3 us-gaap Operating Income Loss
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CY2021Q3 us-gaap Operating Income Loss
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us-gaap Operating Income Loss
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us-gaap Operating Income Loss
OperatingIncomeLoss
577000000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
74000000 usd

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