Leidos Holdings Files Q3 2024 10-Q

TL;DR

Leidos Q3 10-Q is in: check financials and ops for the latest.

AI Summary

Leidos Holdings, Inc. filed its 10-Q for the period ending September 27, 2024. The company reported financial results and provided updates on its business operations. Key financial figures and operational details are disclosed within this filing, which covers the third quarter of their fiscal year.

Why It Matters

This filing provides investors with a detailed look at Leidos' financial health and operational performance during the third quarter, influencing investment decisions.

Risk Assessment

Risk Level: medium — 10-Q filings inherently carry medium risk due to the detailed financial and operational information that can impact stock price.

Key Numbers

• 2024-09-27 — Reporting Period End (Indicates the end date for the financial data presented in the 10-Q.)
• 2024-10-29 — Filing Date (The date the document was officially submitted to the SEC.)

Key Players & Entities

• Leidos Holdings, Inc. (company) — Filer
• 2024-09-27 (date) — Reporting Period End Date
• 2024-10-29 (date) — Filing Date
• SAIC, Inc. (company) — Former Company Name

FAQ

Filing Documents

• ldos-20240927.htm (10-Q) — 1489KB
• ldos092724ex311.htm (EX-31.1) — 9KB
• ldos092724ex312.htm (EX-31.2) — 9KB
• ldos092724ex321.htm (EX-32.1) — 4KB
• ldos092724ex322.htm (EX-32.2) — 4KB
• ldos-20240927_g1.jpg (GRAPHIC) — 167KB
• 0001336920-24-000054.txt ( ) — 7863KB
• ldos-20240927.xsd (EX-101.SCH) — 42KB
• ldos-20240927_cal.xml (EX-101.CAL) — 72KB
• ldos-20240927_def.xml (EX-101.DEF) — 192KB
• ldos-20240927_lab.xml (EX-101.LAB) — 558KB
• ldos-20240927_pre.xml (EX-101.PRE) — 375KB
• ldos-20240927_htm.xml (XML) — 1382KB

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) 1 Condensed Consolidated Balance Sheets 1 Condensed Consolidated Statements of Operations 2 Condensed Consolidated Statements of Comprehensive Income (Loss) 3 Condensed Consolidated Statements of Equity 4 Condensed Consolidated Statements of Cash Flows 6 Notes to Condensed Consolidated Financial Statements 8 Note 1–Basis of Presentation and Summary of Significant Accounting Policies 8 Note 2–Revenues 10 Note 3–Goodwill and Intangible Assets 14 Note 4–Fair Value Measurements 16 Note 5–Derivative Instruments 17 Note 6–Debt 18 Note 7–Accumulated Other Comprehensive Income (Loss) 19 Note 8–Earnings Per Share 19 Note 9–Income Taxes 20 Note 10–Business Segments 20 Note 11–Commitments and Contingencies 22

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 24 Overview 24 Business Environment and Trends 24 Results of Operations 25 Bookings and Backlog 28 Liquidity and Capital Resources 28 Off-Balance Sheet Arrangements 29 Guarantor and Issuer of Guaranteed Securities 30 Contractual Obligations and Commitments 31 Critical Accounting Policies 31 Recently Adopted and Issued Accounting Standards 31

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 32

Controls and Procedures

Item 4. Controls and Procedures 32 Part II

Legal Proceedings

Item 1. Legal Proceedings 33

Risk Factors

Item 1A. Risk Factors 33

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 33

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 33

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 33

Other Information

Item 5. Other Information 33

Exhibits

Item 6. Exhibits 34

Signatures

Signatures 35 Table of Contents

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. LEIDOS HOLDINGS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS September 27, 2024 December 29, 2023 (unaudited; in millions, except share and per share data) Assets: Cash and cash equivalents $ 1,185 $ 777 Receivables, net 2,706 2,429 Inventory, net 323 310 Other current assets 451 489 Total current assets 4,665 4,005 Property, plant and equipment, net 992 961 Intangible assets, net 558 667 Goodwill 6,123 6,112 Operating lease right-of-use assets, net 459 512 Other long-term assets 541 438 Total assets $ 13,338 $ 12,695 Liabilities: Accounts payable and accrued liabilities $ 2,287 $ 2,277 Accrued payroll and employee benefits 903 695 Current portion of long-term debt 592 18 Total current liabilities 3,782 2,990 Long-term debt, net of current portion 4,081 4,664 Operating lease liabilities 467 516 Other long-term liabilities 341 267 Total liabilities 8,671 8,437 Commitments and contingencies (Note 11) Stockholders' equity: Common stock, $ 0.0001 par value, 500,000,000 shares authorized, 133,337,275 and 135,766,419 shares issued and outstanding at September 27, 2024, and December 29, 2023, respectively — — Additional paid-in capital 1,469 1,885 Retained earnings 3,179 2,364 Accumulated other comprehensive loss ( 34 ) ( 48 ) Total Leidos stockholders' equity 4,614 4,201 Non-controlling interest 53 57 Total stockholders' equity 4,667 4,258 Total liabilities and stockholders' equity $ 13,338 $ 12,695 See accompanying notes to condensed consolidated financial statements. 1 Table of Contents LEIDOS HOLDINGS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Three Months Ended Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 (unaudited; in millions, except per share data) Revenues $ 4,190 $ 3,921 $ 12,297 $ 11,458 Cost of revenues 3,428 3,334 10,192 9,809 Selling, general and administrative expenses 247 239 704 709 Acquisition, integration an

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View this 10-Q filing on SEC EDGAR