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10-Q Filing

LEIDOS HOLDINGS, INC. CIK: 1336920 Q1 2022
Filing Information
Form Type 10-Q
Accession Number 0001336920-22-000024
Period End Date 20220331
Filing Date 20220503
Fiscal Year 2022
Fiscal Period Q1
XBRL Instance ldos-20220401_htm.xml
Balance Sheet 70 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $377.00M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $297.00M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $727.00M USD Point-in-time
Common stock, par value (dollars per share) CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Common stock, par value (dollars per share) CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 500.00M shares Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 500.00M shares Point-in-time
Receivables, net ReceivablesNetCurrent $2.19B USD Point-in-time
Receivables, net ReceivablesNetCurrent $2.42B USD Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 140.00M shares Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 137.00M shares Point-in-time
Inventory, net InventoryNet $279.00M USD Point-in-time
Inventory, net InventoryNet $274.00M USD Point-in-time
Common stock, shares outstanding (in shares) CommonStockSharesOutstanding 140.00M shares Point-in-time
Common stock, shares outstanding (in shares) CommonStockSharesOutstanding 137.00M shares Point-in-time
Other current assets OtherAssetsCurrent $492.00M USD Point-in-time
Other current assets OtherAssetsCurrent $429.00M USD Point-in-time
Total current assets AssetsCurrent $3.49B USD Point-in-time
Total current assets AssetsCurrent $3.62B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $670.00M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $674.00M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $1.18B USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $1.11B USD Point-in-time
Goodwill Goodwill $6.31B USD Point-in-time
Goodwill Goodwill $6.74B USD Point-in-time
Goodwill Goodwill $6.74B USD Point-in-time
Operating lease right-of-use assets, net OperatingLeaseRightOfUseAsset $612.00M USD Point-in-time
Operating lease right-of-use assets, net OperatingLeaseRightOfUseAsset $600.00M USD Point-in-time
Other assets OtherAssetsNoncurrent $418.00M USD Point-in-time
Other assets OtherAssetsNoncurrent $439.00M USD Point-in-time
Total assets Assets $13.03B USD Point-in-time
Total assets Assets $13.26B USD Point-in-time
Accounts payable and accrued liabilities AccountsPayableAndAccruedLiabilitiesCurrent $2.14B USD Point-in-time
Accounts payable and accrued liabilities AccountsPayableAndAccruedLiabilitiesCurrent $2.21B USD Point-in-time
Accrued payroll and employee benefits EmployeeRelatedLiabilitiesCurrent $724.00M USD Point-in-time
Accrued payroll and employee benefits EmployeeRelatedLiabilitiesCurrent $605.00M USD Point-in-time
Short-term debt and current portion of long-term debt DebtCurrent $483.00M USD Point-in-time
Short-term debt and current portion of long-term debt DebtCurrent $556.00M USD Point-in-time
Total current liabilities LiabilitiesCurrent $3.49B USD Point-in-time
Total current liabilities LiabilitiesCurrent $3.23B USD Point-in-time
Long-term debt, net of current portion LongTermDebtAndCapitalLeaseObligations $4.57B USD Point-in-time
Long-term debt, net of current portion LongTermDebtAndCapitalLeaseObligations $4.59B USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityNoncurrent $582.00M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityNoncurrent $589.00M USD Point-in-time
Deferred tax liabilities DeferredIncomeTaxLiabilitiesNet $182.00M USD Point-in-time
Deferred tax liabilities DeferredIncomeTaxLiabilitiesNet $239.00M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $195.00M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $267.00M USD Point-in-time
Total liabilities Liabilities $8.92B USD Point-in-time
Total liabilities Liabilities $9.02B USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Common stock, $0.0001 par value, 500 million shares authorized, 137 million and 140 million shares issued and outstanding at April 1, 2022, and December 31, 2021, respectively CommonStockValue - USD Point-in-time
Common stock, $0.0001 par value, 500 million shares authorized, 137 million and 140 million shares issued and outstanding at April 1, 2022, and December 31, 2021, respectively CommonStockValue - USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $2.42B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $1.93B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.88B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $2.01B USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-12.00M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $20.00M USD Point-in-time
Total Leidos stockholders equity StockholdersEquity $3.96B USD Point-in-time
Total Leidos stockholders equity StockholdersEquity $4.29B USD Point-in-time
Non-controlling interest MinorityInterest $53.00M USD Point-in-time
Non-controlling interest MinorityInterest $53.00M USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.98B USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.01B USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.87B USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.34B USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $13.26B USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $13.03B USD Point-in-time
Income Statement 30 line items
Line Item Tag Value Unit Period
Revenues Revenues $3.31B USD 1 Quarter
Revenues Revenues $3.49B USD 1 Quarter
Cost of revenues CostOfRevenue $2.98B USD 1 Quarter
Cost of revenues CostOfRevenue $2.85B USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $236.00M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $159.00M USD 1 Quarter
Acquisition, integration and restructuring costs AcquisitionIntegrationAndRestructuringCosts $5.00M USD 1 Quarter
Acquisition, integration and restructuring costs AcquisitionIntegrationAndRestructuringCosts $3.00M USD 1 Quarter
Equity loss (earnings) of non-consolidated subsidiaries IncomeLossFromEquityMethodInvestments $5.00M USD 1 Quarter
Equity loss (earnings) of non-consolidated subsidiaries IncomeLossFromEquityMethodInvestments $-2.00M USD 1 Quarter
Operating income OperatingIncomeLoss $308.00M USD 1 Quarter
Operating income OperatingIncomeLoss $271.00M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNet $-45.00M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNet $-48.00M USD 1 Quarter
Other expense, net OtherNonoperatingIncomeExpense $-1.00M USD 1 Quarter
Other expense, net OtherNonoperatingIncomeExpense $-1.00M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $222.00M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $262.00M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $45.00M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $57.00M USD 1 Quarter
Net income ProfitLoss $205.00M USD 1 Quarter
Net income ProfitLoss $177.00M USD 1 Quarter
Less: net income attributable to non-controlling interest NetIncomeLossAttributableToNoncontrollingInterest - USD 1 Quarter
Less: net income attributable to non-controlling interest NetIncomeLossAttributableToNoncontrollingInterest $2.00M USD 1 Quarter
Net income attributable to Leidos common stockholders NetIncomeLoss $205.00M USD 1 Quarter
Net income attributable to Leidos common stockholders NetIncomeLoss $175.00M USD 1 Quarter
Basic (dollars per share) EarningsPerShareBasic $1.26 USD 1 Quarter
Basic (dollars per share) EarningsPerShareBasic $1.44 USD 1 Quarter
Diluted (dollars per share) EarningsPerShareDiluted $1.25 USD 1 Quarter
Diluted (dollars per share) EarningsPerShareDiluted $1.42 USD 1 Quarter
Cash Flow Statement 67 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $205.00M USD 1 Quarter
Net income ProfitLoss $177.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $77.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $85.00M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $15.00M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $16.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-61.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit - USD 1 Quarter
Other OtherNoncashIncomeExpense $8.00M USD 1 Quarter
Other OtherNoncashIncomeExpense $-4.00M USD 1 Quarter
Receivables IncreaseDecreaseInReceivables $232.00M USD 1 Quarter
Receivables IncreaseDecreaseInReceivables $10.00M USD 1 Quarter
Other current assets and other long-term assets IncreaseDecreaseInOtherOperatingAssets $-5.00M USD 1 Quarter
Other current assets and other long-term assets IncreaseDecreaseInOtherOperatingAssets $28.00M USD 1 Quarter
Accounts payable and accrued liabilities and other long-term liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilitiesAndOtherNoncurrentLiabilities $-148.00M USD 1 Quarter
Accounts payable and accrued liabilities and other long-term liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilitiesAndOtherNoncurrentLiabilities $-60.00M USD 1 Quarter
Accrued payroll and employee benefits IncreaseDecreaseInEmployeeRelatedLiabilities $50.00M USD 1 Quarter
Accrued payroll and employee benefits IncreaseDecreaseInEmployeeRelatedLiabilities $124.00M USD 1 Quarter
Income taxes receivable/payable IncreaseDecreaseInIncomeTaxes $68.00M USD 1 Quarter
Income taxes receivable/payable IncreaseDecreaseInIncomeTaxes $53.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $239.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $93.00M USD 1 Quarter
Acquisition of businesses, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $2.00M USD 1 Quarter
Acquisition of businesses, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $218.00M USD 1 Quarter
Divestiture of a business ProceedsFromSalesOfBusinessAffiliateAndProductiveAssets - USD 1 Quarter
Divestiture of a business ProceedsFromSalesOfBusinessAffiliateAndProductiveAssets $9.00M USD 1 Quarter
Payments for property, equipment and software PaymentsToAcquireProductiveAssets $28.00M USD 1 Quarter
Payments for property, equipment and software PaymentsToAcquireProductiveAssets $26.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-244.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-21.00M USD 1 Quarter
Net proceeds from commercial paper ProceedsFromIssuanceOfCommercialPaper $75.00M USD 1 Quarter
Net proceeds from commercial paper ProceedsFromIssuanceOfCommercialPaper - USD 1 Quarter
Payments of long-term debt RepaymentsOfLongTermDebtAndCapitalSecurities $27.00M USD 1 Quarter
Payments of long-term debt RepaymentsOfLongTermDebtAndCapitalSecurities $26.00M USD 1 Quarter
Dividend payments PaymentsOfOrdinaryDividends $50.00M USD 1 Quarter
Dividend payments PaymentsOfOrdinaryDividends $51.00M USD 1 Quarter
Repurchases of stock and other PaymentsForRepurchaseOfEquity $526.00M USD 1 Quarter
Repurchases of stock and other PaymentsForRepurchaseOfEquity $123.00M USD 1 Quarter
Net capital (distribution to) contributions from non-controlling interests ProceedsFromPaymentsToMinorityShareholders $-2.00M USD 1 Quarter
Net capital (distribution to) contributions from non-controlling interests ProceedsFromPaymentsToMinorityShareholders $38.00M USD 1 Quarter
Proceeds from issuances of stock ProceedsFromIssuanceOfCommonStock $12.00M USD 1 Quarter
Proceeds from issuances of stock ProceedsFromIssuanceOfCommonStock $13.00M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-148.00M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-519.00M USD 1 Quarter
Net decrease in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-447.00M USD 1 Quarter
Net decrease in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-153.00M USD 1 Quarter
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $875.00M USD Point-in-time
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $687.00M USD Point-in-time
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $534.00M USD Point-in-time
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $428.00M USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $875.00M USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $687.00M USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $534.00M USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $428.00M USD Point-in-time
Less: restricted cash at end of period RestrictedCash $157.00M USD Point-in-time
Less: restricted cash at end of period RestrictedCash $131.00M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $377.00M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $297.00M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $727.00M USD Point-in-time
Cash paid for income taxes, net of refunds IncomeTaxesPaidNet $8.00M USD 1 Quarter
Cash paid for income taxes, net of refunds IncomeTaxesPaidNet $8.00M USD 1 Quarter
Cash paid for interest InterestPaidNet $38.00M USD 1 Quarter
Cash paid for interest InterestPaidNet $35.00M USD 1 Quarter
Property, plant and equipment additions PropertyPlantAndAdditionsNonCashInvestingActivity - USD 1 Quarter
Property, plant and equipment additions PropertyPlantAndAdditionsNonCashInvestingActivity $2.00M USD 1 Quarter
Finance lease obligations CapitalLeaseObligationsIncurred - USD 1 Quarter
Finance lease obligations CapitalLeaseObligationsIncurred $45.00M USD 1 Quarter
Stockholders Equity 24 line items
Line Item Tag Value Unit Period
Dividends (dollars per share) CommonStockDividendsPerShareDeclared $0.36 USD 1 Quarter
Dividends (dollars per share) CommonStockDividendsPerShareDeclared $0.34 USD 1 Quarter
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.98B USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.01B USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.87B USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.34B USD Point-in-time
Net income ProfitLoss $205.00M USD 1 Quarter
Net income ProfitLoss $177.00M USD 1 Quarter
Other comprehensive income, net of taxes OtherComprehensiveIncomeLossNetOfTax $9.00M USD 1 Quarter
Other comprehensive income, net of taxes OtherComprehensiveIncomeLossNetOfTax $32.00M USD 1 Quarter
Issuances of stock StockIssuedDuringPeriodValueNewIssues $15.00M USD 1 Quarter
Issuances of stock StockIssuedDuringPeriodValueNewIssues $14.00M USD 1 Quarter
Repurchases of stock and other StockRepurchasedAndRetiredDuringPeriodValue $123.00M USD 1 Quarter
Repurchases of stock and other StockRepurchasedAndRetiredDuringPeriodValue $526.00M USD 1 Quarter
Dividends DividendsCommonStock $48.00M USD 1 Quarter
Dividends DividendsCommonStock $49.00M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $15.00M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $16.00M USD 1 Quarter
Capital distributions to non-controlling interests MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders $2.00M USD 1 Quarter
Capital distributions to non-controlling interests NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance $38.00M USD 1 Quarter
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.98B USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.01B USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.87B USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.34B USD Point-in-time
Comprehensive Income 16 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $205.00M USD 1 Quarter
Net income ProfitLoss $177.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-4.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $2.00M USD 1 Quarter
Unrecognized gain on derivative instruments OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $29.00M USD 1 Quarter
Unrecognized gain on derivative instruments OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $13.00M USD 1 Quarter
Pension adjustments OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-1.00M USD 1 Quarter
Pension adjustments OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax - USD 1 Quarter
Total other comprehensive income, net of taxes OtherComprehensiveIncomeLossNetOfTax $9.00M USD 1 Quarter
Total other comprehensive income, net of taxes OtherComprehensiveIncomeLossNetOfTax $32.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $214.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $209.00M USD 1 Quarter
Less: net income attributable to non-controlling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $2.00M USD 1 Quarter
Less: net income attributable to non-controlling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest - USD 1 Quarter
Comprehensive income attributable to Leidos common stockholders ComprehensiveIncomeNetOfTax $214.00M USD 1 Quarter
Comprehensive income attributable to Leidos common stockholders ComprehensiveIncomeNetOfTax $207.00M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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