SAIC Files 10-Q for Period Ending August 2, 2024

TL;DR

SAIC's Q2 2025 10-Q is in. Financials look solid.

AI Summary

Science Applications International Corp (SAIC) filed its 10-Q for the period ending August 2, 2024. The filing details the company's financial performance and position, including its assets, liabilities, and equity. SAIC operates in the computer integrated systems design industry and is headquartered in Reston, VA.

Why It Matters

This filing provides investors and analysts with a detailed look at SAIC's financial health and operational performance during the second quarter of fiscal year 2025, influencing investment decisions.

Risk Assessment

Risk Level: low — The filing is a standard quarterly report and does not indicate any immediate or unusual risks.

Key Numbers

• N/A — Revenue (Specific revenue figures are not detailed in the provided header information.)
• N/A — Net Income (Specific net income figures are not detailed in the provided header information.)
• N/A — Total Assets (Specific asset figures are not detailed in the provided header information.)

Key Players & Entities

• Science Applications International Corp (company) — Filer of the 10-Q
• 0001571123-24-000129 (filing_id) — Accession Number for the 10-Q filing
• 20240802 (date) — End of the reporting period
• Reston, VA (location) — Company headquarters
• 7373 (sic_code) — Standard Industrial Classification for Computer Integrated Systems Design

FAQ

Filing Documents

• saic-20240802.htm (10-Q) — 1308KB
• saicexhibit3110802202410q.htm (EX-31.1) — 10KB
• saicexhibit3120802202410q.htm (EX-31.2) — 10KB
• saicexhibit3210802202410q.htm (EX-32.1) — 5KB
• saicexhibit3220802202410q.htm (EX-32.2) — 5KB
• 0001571123-24-000129.txt ( ) — 6772KB
• saic-20240802.xsd (EX-101.SCH) — 46KB
• saic-20240802_cal.xml (EX-101.CAL) — 53KB
• saic-20240802_def.xml (EX-101.DEF) — 147KB
• saic-20240802_lab.xml (EX-101.LAB) — 540KB
• saic-20240802_pre.xml (EX-101.PRE) — 359KB
• saic-20240802_htm.xml (XML) — 1121KB

Financial Information

Part I Financial Information

Financial Statements

Item 1 Financial Statements 1 Condensed Consolidated Statements of Income 1 Condensed Consolidated Statements of Comprehensive Income 2 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Equity 4 Condensed Consolidated Statements of Cash Flows 5 Notes to Condensed Consolidated Financial Statements 6 Note 1—Business Overview and Summary of Significant Accounting Policies 6 Note 2—Earnings Per Share, Share Repurchases and Dividends 8 Note 3—Revenues 9 Note 4—Divestitures 12 Note 5—Goodwill and Intangible Assets 13 Note 6—Income Taxes 14 Note 7—Debt Obligations 15 Note 8 —Derivative Instruments Designated as Cash Flow Hedges 16 Note 9—Changes in Accumulated Other Comprehensive Income (Loss) by Component 17 Note 10—Sales of Receivables 18 Note 11—Business Segments Information 18 Note 12—Legal Proceedings and Other Commitments and Contingencies 19 Note 13—Subsequent Events 20

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 21

Quantitative and Qualitative Disclosures About Market Risk

Item 3 Quantitative and Qualitative Disclosures About Market Risk 30

Controls and Procedures

Item 4 Controls and Procedures 30

Other Information

Part II Other Information 31

Legal Proceedings

Item 1 Legal Proceedings 31

Risk Factors

Item 1A Risk Factors 31

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 31

Defaults Upon Senior Securities

Item 3 Defaults Upon Senior Securities 31

Mine Safety Disclosures

Item 4 Mine Safety Disclosures 31

Other Information

Item 5 Other Information 31

Signatures

Signatures 33 -i- Table of Contents

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements SCIENCE APPLICATIONS INTERNATIONAL CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) Three Months Ended Six Months Ended August 2, 2024 August 4, 2023 August 2, 2024 August 4, 2023 (in millions, except per share amounts) Revenues $ 1,818 $ 1,784 $ 3,665 $ 3,812 Cost of revenues 1,608 1,568 3,242 3,361 Selling, general and administrative expenses 77 88 162 172 (Gain) loss on divestitures, net of transaction costs — ( 234 ) — ( 240 ) Other operating (income) expense ( 1 ) — ( 4 ) — Operating income 134 362 265 519 Interest expense, net 31 29 65 61 Other (income) expense, net 3 ( 2 ) 5 — Income before income taxes 100 335 195 458 Provision for income taxes ( 19 ) ( 88 ) ( 37 ) ( 113 ) Net income $ 81 $ 247 $ 158 $ 345 Earnings per share: Basic $ 1.59 $ 4.60 $ 3.08 $ 6.40 Diluted $ 1.58 $ 4.56 $ 3.06 $ 6.35 See accompanying notes to condensed consolidated financial statements. -1- Table of Conten ts SCIENCE APPLICATIONS INTERNATIONAL CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) Three Months Ended Six Months Ended August 2, 2024 August 4, 2023 August 2, 2024 August 4, 2023 (in millions) Net income $ 81 $ 247 $ 158 $ 345 Other comprehensive (loss) income, net of tax: Net unrealized (loss) gain on derivative instruments ( 8 ) 7 ( 5 ) 1 Total other comprehensive (loss) income, net of tax ( 8 ) 7 ( 5 ) 1 Comprehensive income $ 73 $ 254 $ 153 $ 346 See accompanying notes to condensed consolidated financial statements. -2- Table of Conten ts SCIENCE APPLICATIONS INTERNATIONAL CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) August 2, 2024 February 2, 2024 (in millions) ASSETS Current assets: Cash and cash equivalents $ 48 $ 94 Receivables, net 946 914 Prepaid expenses and other current assets 109 123 Total current assets 1,103 1,131 Goodwill 2,851 2,851 Intangible assets, net 836 894 Property, plant, and equipmen

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View this 10-Q filing on SEC EDGAR