$LHX
L3HARRIS TECHNOLOGIES, INC. /DE/

2024 Q2 Form 10-Q Financial Statement

#000020205824000103 Filed on April 26, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $5.299B $5.211B
YoY Change 12.91% 16.55%
Cost Of Revenue $3.939B $3.863B
YoY Change 13.32% 16.88%
Gross Profit $1.360B $1.348B
YoY Change 11.75% 15.61%
Gross Profit Margin 25.67% 25.87%
Selling, General & Admin $884.0M $492.0M
YoY Change 7.67% -36.35%
% of Gross Profit 65.0% 36.5%
Research & Development $124.0M $114.0M
YoY Change 5.98% 0.0%
% of Gross Profit 9.12% 8.46%
Depreciation & Amortization $536.0M $320.0M
YoY Change 109.38% 276.47%
% of Gross Profit 39.41% 23.74%
Operating Expenses $884.0M $803.0M
YoY Change 7.67% 3.88%
Operating Profit $476.0M $545.0M
YoY Change 20.2% 38.68%
Interest Expense -$172.0M -$176.0M
YoY Change 54.95% 72.55%
% of Operating Profit -36.13% -32.29%
Other Income/Expense, Net $86.00M $88.00M
YoY Change 3.61% 7.32%
Pretax Income $390.0M $290.0M
YoY Change 4.84% -22.25%
Income Tax $23.00M $5.000M
% Of Pretax Income 5.9% 1.72%
Net Earnings $366.0M $283.0M
YoY Change 4.87% -16.02%
Net Earnings / Revenue 6.91% 5.43%
Basic Earnings Per Share $1.93 $1.49
Diluted Earnings Per Share $1.92 $1.48
COMMON SHARES
Basic Shares Outstanding 189.7M shares 190.1M shares
Diluted Shares Outstanding 190.6M shares 190.8M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $547.0M $477.0M
YoY Change 49.45% -12.48%
Cash & Equivalents $547.0M $477.0M
Short-Term Investments
Other Short-Term Assets $502.0M $1.602B
YoY Change 50.3% 421.82%
Inventory $1.432B $1.476B
Prepaid Expenses
Receivables $1.230B $4.711B
Other Receivables $0.00 $0.00
Total Short-Term Assets $8.047B $8.266B
YoY Change 17.47% 18.09%
LONG-TERM ASSETS
Property, Plant & Equipment $2.800B $2.836B
YoY Change -3.81% -1.83%
Goodwill $20.37B $20.07B
YoY Change 10.59% 9.73%
Intangibles $8.080B $8.340B
YoY Change 26.23% 24.7%
Long-Term Investments
YoY Change
Other Assets $2.229B $2.304B
YoY Change 184.67% 307.79%
Total Long-Term Assets $33.61B $33.55B
YoY Change 17.88% 17.69%
TOTAL ASSETS
Total Short-Term Assets $8.047B $8.266B
Total Long-Term Assets $33.61B $33.55B
Total Assets $41.66B $41.82B
YoY Change 17.8% 17.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.896B $2.112B
YoY Change -6.55% 2.82%
Accrued Expenses $1.960B $1.553B
YoY Change 48.04% 26.16%
Deferred Revenue $1.889B $1.777B
YoY Change 14.62% 16.52%
Short-Term Debt $2.102B $2.203B
YoY Change 261.17% 110050.0%
Long-Term Debt Due $617.0M $365.0M
YoY Change 70.91% -54.99%
Total Short-Term Liabilities $8.981B $8.437B
YoY Change 42.35% 37.16%
LONG-TERM LIABILITIES
Long-Term Debt $10.53B $11.14B
YoY Change 33.89% 35.52%
Other Long-Term Liabilities $2.796B $2.826B
YoY Change 26.92% 132.59%
Total Long-Term Liabilities $13.33B $13.97B
YoY Change 32.36% 48.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.981B $8.437B
Total Long-Term Liabilities $13.33B $13.97B
Total Liabilities $22.75B $23.15B
YoY Change 34.36% 35.39%
SHAREHOLDERS EQUITY
Retained Earnings $3.368B $3.239B
YoY Change 8.26% 8.04%
Common Stock $15.71B $15.66B
YoY Change 0.81% 0.42%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $18.84B $18.67B
YoY Change
Total Liabilities & Shareholders Equity $41.66B $41.82B
YoY Change 17.8% 17.77%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $366.0M $283.0M
YoY Change 4.87% -16.02%
Depreciation, Depletion And Amortization $536.0M $320.0M
YoY Change 109.38% 276.47%
Cash From Operating Activities $754.0M -$104.0M
YoY Change 82.13% -129.71%
INVESTING ACTIVITIES
Capital Expenditures $97.00M $115.0M
YoY Change 4.3% 61.97%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities $155.0M -$1.000M
YoY Change 131.34% 0.0%
Cash From Investing Activities $58.00M -$116.0M
YoY Change -323.08% -94.34%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -744.0M 144.0M
YoY Change 31.22% -89.42%
NET CHANGE
Cash From Operating Activities 754.0M -104.0M
Cash From Investing Activities 58.00M -116.0M
Cash From Financing Activities -744.0M 144.0M
Net Change In Cash 68.00M -76.00M
YoY Change -137.99% -77.31%
FREE CASH FLOW
Cash From Operating Activities $754.0M -$104.0M
Capital Expenditures $97.00M $115.0M
Free Cash Flow $657.0M -$219.0M
YoY Change 104.67% -178.49%

Facts In Submission

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<div style="margin-bottom:5pt;margin-top:9pt"><span style="color:#016676;font-family:'IBM Plex Sans SemiBold',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:5pt;text-indent:18pt"><span style="color:#283030;font-family:'IBM Plex Sans',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in accordance with GAAP requires us to make estimates and assumptions that affect the amounts reported in the accompanying Condensed Consolidated Financial Statements and these Notes and related disclosures. These estimates and assumptions are based on experience and other information available prior to issuance of the accompanying Condensed Consolidated Financial Statements and these Notes. Materially different results can occur as circumstances change and additional information becomes known.</span></div>
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Files In Submission

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0000202058-24-000103.txt Edgar Link pending
0000202058-24-000103-xbrl.zip Edgar Link pending
exhibit102364-daycreditagr.htm Edgar Link pending
exhibit1042024performances.htm Edgar Link pending
exhibit1052024stockoptiona.htm Edgar Link pending
exhibit1062024restiricteds.htm Edgar Link pending
exhibit15cy24-q110xq.htm Edgar Link pending
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