Leidos Holdings Files 2024 10-K

TL;DR

Leidos filed its 2024 10-K, detailing revenues and debt for the year ending Jan 3, 2025.

AI Summary

Leidos Holdings, Inc. filed its 2024 10-K on February 11, 2025, reporting on its fiscal year ending January 3, 2025. The company, formerly known as SAIC, Inc., is headquartered in Reston, VA. The filing details various financial aspects, including revenues, debt, and assets, providing a comprehensive overview of the company's performance and financial standing for the fiscal year.

Why It Matters

This filing provides investors and analysts with a detailed look at Leidos' financial health, operational performance, and strategic direction for the past fiscal year, influencing investment decisions.

Risk Assessment

Risk Level: medium — The filing is a standard annual report and does not inherently contain new, high-risk information.

Key Numbers

• N/A — Revenues (Specific revenue figures are not provided in this excerpt.)
• N/A — Debt (Specific debt figures are not provided in this excerpt.)
• N/A — Assets (Specific asset figures are not provided in this excerpt.)

Key Players & Entities

• Leidos Holdings, Inc. (company) — Filer
• SAIC, Inc. (company) — Former company name
• 20250103 (date) — Fiscal year end
• 20250211 (date) — Filing date
• 571-526-6000 (phone_number) — Business phone

FAQ

Filing Documents

• ldos-20250103.htm (10-K) — 2726KB
• ldos1032025ex19.htm (EX-19) — 67KB
• ldos1032025ex21.htm (EX-21) — 13KB
• ldos1032025ex22.htm (EX-22) — 5KB
• ldos1032025ex231.htm (EX-23.1) — 4KB
• ldos1032025ex311.htm (EX-31.1) — 9KB
• ldos1032025ex312.htm (EX-31.2) — 10KB
• ldos1032025ex321.htm (EX-32.1) — 5KB
• ldos1032025ex322.htm (EX-32.2) — 5KB
• ldos-20250103_g1.jpg (GRAPHIC) — 167KB
• ldos-20250103_g2.jpg (GRAPHIC) — 59KB
• ldos-20250103_g3.jpg (GRAPHIC) — 27KB
• ldos-20250103_g4.jpg (GRAPHIC) — 18KB
• ldos-20250103_g5.jpg (GRAPHIC) — 27KB
• 0001336920-25-000006.txt ( ) — 15934KB
• ldos-20250103.xsd (EX-101.SCH) — 80KB
• ldos-20250103_cal.xml (EX-101.CAL) — 150KB
• ldos-20250103_def.xml (EX-101.DEF) — 364KB
• ldos-20250103_lab.xml (EX-101.LAB) — 1085KB
• ldos-20250103_pre.xml (EX-101.PRE) — 750KB
• ldos-20250103_htm.xml (XML) — 3033KB

Forward-Looking Statements

Forward-Looking Statements 1 Part I

Risk Factors

Item 1A. Risk Factors 14

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 37

Cybersecurity

Item 1C. Cybersecurity 37

Properties

Item 2. Properties 38

Legal Proceedings

Item 3. Legal Proceedings 39

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 39 Executive Officers of the Registrant 40 Part II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 43

[Reserved]

Item 6. [Reserved] 45

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 46

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 57

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 58

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 104

Controls and Procedures

Item 9A. Controls and Procedures 104

Other Information

Item 9B. Other Information 106

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 106 Part III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 107

Executive Compensation

Item 11. Executive Compensation 107

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 108

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 108

Principal Accounting Fees and Services

Item 14. Principal Accounting Fees and Services 108 Part IV

Exhibits, Financial Statement Schedules

Item 15. Exhibits, Financial Statement Schedules 109

Form 10-K Summary

Item 16. Form 10-K Summary 112

Signatures

Signatures 113 Table of Contents LEIDOS HOLDINGS, INC. FORM 10-K

Forward-Looking Statements

Forward-Looking Statements This Annual Report on Form 10-K contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that are based on our management's belief and assumptions about the future in light of information currently available to our management. In some cases, you can identify forward-looking statements by words such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue," and similar words or phrases or the negative of these words or phrases. These statements relate to future events or our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable when made, we cannot guarantee future results, levels of activity, performance or achievements. There are a number of important factors that could cause our actual results to differ materially from those results anticipated by our forward-looking statements, which include, but are not limited to: u developments in the U.S. government defense and non-defense budgets, including budget reductions, sequestration, implementation of spending limits or changes in budgetary priorities, delays in the U.S. government budget process or a government shutdown, or the U.S. government's failure to raise the debt ceiling, which increases the possibility of a default by the U.S. government on its debt obligations, related credit-rating downgrades, or an economic recession; u uncertainties in tax due to new tax legislation or other regulatory developments; u deterioration of economic conditions or weakening in credit or

Business

Item 1. Business OUR COMPANY Leidos Holdings, Inc. ("Leidos"), a Delaware corporation, is a holding company whose direct 100%-owned subsidiary and principal operating company is Leidos, Inc. Leidos was founded in 1969 by physicist Dr. Robert Beyster. Since our founding 56 years ago, we have applied our expertise in science, research and engineering in rapidly-evolving technologies and markets to solve complex problems of global concern. We use the terms "we," "us" and "our" to refer collectively to Leidos Holdings, Inc. and its consolidated subsidiaries. Leidos is an industry and technology leader serving government and commercial customers with smarter, more efficient digital and mission innovations. Headquartered in Reston, Virginia, with 48,000, global employees, we bring domain-specific capabilities, technologies and insights to customers in each of these markets by leveraging seven technical core capabilities: trusted mission artificial intelligence, cyber operations, digital modernization, mission software systems, integrated systems, mission operations, and rapid prototyping and manufacturing. Applying our technically-advanced solutions to help solve our customers' most difficult problems has enabled us to build strong relationships with key customers. Our customers include the U.S. Department of Defense ("DoD"), the U.S. Intelligence Community, the U.S. Department of Homeland Security ("DHS"), the Federal Aviation Administration ("FAA"), the Department of Veterans Affairs ("VA"), National Aeronautics and Space Administration ("NASA") and many other U.S. civilian, state and local government agencies, foreign government agencies and commercial businesses. With a focus on delivering mission-critical solutions, Leidos generated 87% of revenues for the fiscal year ended January 3, 2025, ("fiscal 2024") from U.S. government contracts, either as a prime contractor or a subcontractor to other contractors engaged in work for the U.S. government. Approximately 8% o

View Full Filing

View this 10-K filing on SEC EDGAR