$LHX
L3HARRIS TECHNOLOGIES, INC. /DE/

2023 Q3 Form 10-Q Financial Statement

#000020205823000047 Filed on July 26, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $4.915B $4.693B
YoY Change 18.86% 14.38%
Cost Of Revenue $3.608B $3.476B
YoY Change 24.11% 20.19%
Gross Profit $1.307B $1.217B
YoY Change 6.43% 0.5%
Gross Profit Margin 26.59% 25.93%
Selling, General & Admin $828.0M $821.0M
YoY Change 11.29% 15.15%
% of Gross Profit 63.35% 67.46%
Research & Development $125.0M $117.0M
YoY Change
% of Gross Profit 9.56% 9.61%
Depreciation & Amortization $310.0M $256.0M
YoY Change 33.05% 10.34%
% of Gross Profit 23.72% 21.04%
Operating Expenses $828.0M $821.0M
YoY Change 11.29% 15.15%
Operating Profit $479.0M $396.0M
YoY Change -1.03% -20.48%
Interest Expense -$159.0M -$111.0M
YoY Change 137.31% 63.24%
% of Operating Profit -33.19% -28.03%
Other Income/Expense, Net $80.00M $83.00M
YoY Change -25.93% -21.7%
Pretax Income $400.0M $372.0M
YoY Change -23.81% -30.6%
Income Tax $18.00M $21.00M
% Of Pretax Income 4.5% 5.65%
Net Earnings $383.0M $349.0M
YoY Change -18.68% -26.53%
Net Earnings / Revenue 7.79% 7.44%
Basic Earnings Per Share $2.02 $1.84
Diluted Earnings Per Share $2.02 $1.84
COMMON SHARES
Basic Shares Outstanding 189.1M shares 189.5M shares
Diluted Shares Outstanding 190.1M shares 190.1M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $499.0M $366.0M
YoY Change 18.81% -8.96%
Cash & Equivalents $499.0M $366.0M
Short-Term Investments
Other Short-Term Assets $463.0M $334.0M
YoY Change 98.71% 34.14%
Inventory $1.638B $1.555B
Prepaid Expenses
Receivables $1.381B $4.547B
Other Receivables $43.00M $48.00M
Total Short-Term Assets $7.501B $6.850B
YoY Change 21.22% 9.62%
LONG-TERM ASSETS
Property, Plant & Equipment $3.576B $2.911B
YoY Change 27.58% 2.03%
Goodwill $20.74B $18.42B
YoY Change 14.29% 1.23%
Intangibles $9.050B $6.401B
YoY Change 43.17% -1.31%
Long-Term Investments
YoY Change
Other Assets $961.0M $783.0M
YoY Change 65.69% 37.13%
Total Long-Term Assets $34.79B $28.51B
YoY Change 24.48% 1.12%
TOTAL ASSETS
Total Short-Term Assets $7.501B $6.850B
Total Long-Term Assets $34.79B $28.51B
Total Assets $42.29B $35.36B
YoY Change 23.89% 2.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.112B $2.029B
YoY Change 22.72% 17.76%
Accrued Expenses $1.651B $1.324B
YoY Change 29.09% 2.87%
Deferred Revenue $1.940B $1.648B
YoY Change 52.76% 29.25%
Short-Term Debt $2.033B $582.0M
YoY Change 101550.0% 19300.0%
Long-Term Debt Due $363.0M $361.0M
YoY Change 38.55% 37.79%
Total Short-Term Liabilities $8.482B $6.309B
YoY Change 73.67% 33.19%
LONG-TERM LIABILITIES
Long-Term Debt $11.14B $7.867B
YoY Change 64.26% 15.78%
Other Long-Term Liabilities $1.479B $2.203B
YoY Change 39.92% 108.62%
Total Long-Term Liabilities $12.62B $10.07B
YoY Change 25.39% -2.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.482B $6.309B
Total Long-Term Liabilities $12.62B $10.07B
Total Liabilities $23.58B $16.93B
YoY Change 57.73% 12.31%
SHAREHOLDERS EQUITY
Retained Earnings $3.278B $3.111B
YoY Change -1.03% -0.54%
Common Stock $15.66B $15.58B
YoY Change -2.17% -4.31%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $18.62B $18.43B
YoY Change
Total Liabilities & Shareholders Equity $42.29B $35.36B
YoY Change 23.89% 2.67%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $383.0M $349.0M
YoY Change -18.68% -26.53%
Depreciation, Depletion And Amortization $310.0M $256.0M
YoY Change 33.05% 10.34%
Cash From Operating Activities $543.0M $414.0M
YoY Change -27.5% 961.54%
INVESTING ACTIVITIES
Capital Expenditures $148.0M $93.00M
YoY Change -338.71% 69.09%
Acquisitions
YoY Change
Other Investing Activities -$4.716B $67.00M
YoY Change -94420.0% 644.44%
Cash From Investing Activities -$4.864B -$26.00M
YoY Change 8433.33% -59.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.460B -567.0M
YoY Change -774.74% 10.53%
NET CHANGE
Cash From Operating Activities 543.0M 414.0M
Cash From Investing Activities -4.864B -26.00M
Cash From Financing Activities 4.460B -567.0M
Net Change In Cash 139.0M -179.0M
YoY Change 348.39% -66.79%
FREE CASH FLOW
Cash From Operating Activities $543.0M $414.0M
Capital Expenditures $148.0M $93.00M
Free Cash Flow $395.0M $321.0M
YoY Change -51.29% -2106.25%

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